Gregory G. Johnson of Wong Fleming, PC attended the Congressional Black Caucus Economic Security Taskforce TARP/TALF Access Summit that was held in Washington, DC. Over 300 representatives of minority and women owned businesses were in attendance of the summit. The objective of the CBC’s Summit was to address barriers for minority and women owned businesses and to aid in contracting opportunities related to new federal financial and economic recovery programs. Mr. Johnson noted that “Wong Fleming, PC is a minority and woman owned firm and our attendance at this summit was essential in promoting diversity through the use of qualified professional services providers like us for the TARP/TALF government bailout.”  Gregory Johnson said that “thanks to concerns voiced by the many minority and women owned firms at the Summit, federal officials have promised to commit to assuring diversity in the firms hired by the government.”

 In attendance at this summit were representatives for the Federal Reserve Board, Department of Treasury, Federal Deposit Insurance Incorporation, and the Federal Housing Finance Agency. Federal Reserve Chairman Ben Bernanke made a special appearance and gave remarks about how he values inclusion and welcomes feedback and suggestions from minority and women owned businesses. Mr. Bernanke also stated that the Federal Reserve has made a commitment to provide $1 trillion in loans to pump up the market for Asset Backed Securities to insure the availability of auto loans, student loans and credit loans in all sectors of the economy. Agency representatives also discussed the Troubled Asset Relief Program (TARP), the Term Asset-Backed Securities Lending Facility (TALF) and other programs designed to boost the economy. The CBC stated that they “look forward to building on today’s discussion so that as we move forward, our financial institutions and economy become stronger, healthier and more diverse.”