This biography consists of two parts. Part-I is a profile summarizing the Candidate’s current and past
profession/prior public experience, and education, with the statements describing the most important
issues in Congress and others he would address if elected, and what makes Michael the best candidate
for Congress while the Part-II is a narratives exhibiting his expertise, capacity and a role of leadership
over the course of his professional career, with outlines of his affiliations, travels, distinguished
involvements, his family, and the praise Michael has earned.
Summary of Current and Past Profession/Prior Public Experience
Michael Chan is a Congressional candidate from New York running for the US House of Representatives,
gaining supports by multiple political parties as he did in 2012. With prior public experience, Michael is a
former bank-regulator and team leader at the New York State Banking Department; with completion of
the Train-the-Trainer program from the Board of Elections in the City of New York, he was formerly
appointed election coordinator pursuant to Section 3-401 of Article 3 of New York State Election Law;
and a former professor of economics with the key topics focused including legislative/fiscal policy, at
institutions of higher education most recently New York University. Michael now is a full-time candidate.
Academically, paired with a Master’s degree in Public Administration (MPA) from The Graduate School
of Binghamton University and a Bachelor’s in Finance from a SUNY college, in addition to a diploma in
Banking awarded from the American Institute of Banking (AIB), a nationwide institution once highly
regarded by both the banking industry and the federal bank-regulatory agencies, Michael possesses a
strong academic credentials.
|Committee of Friends of Michael Chan
|Congressional Candidate Michael W. Chan
Let’s share his professional background:
US Congressional Candidate
Supported by multiple political parties, Michael has developed a clear platform in a wide range of principles and key issues for
his candidacy for US House, since early 2012. Prior to accepting the official confirmation as a candidate for Congress, he’s
been formally nominated as a New York State Legislature candidate for the 2010 Elections, as he has expressed his strong
interest in being an elected public official, since the summer 2009.
NYU Professor of Monetary Economics
As a former NYU professor of macro-/monetary economics, to explore the nature of money, the Banking industry, financial
institutions and markets, Michael has taught and delivered the key topics including money supply, monetary theory, the
Federal Reserve System and monetary control and how each is related to price stability, interest rates, inflation, employment
levels, GDP and economic growth, with a focus on contemporary fiscal/monetary policy and its impacts on the US and global
Michael has provided with useful analytical tools and unique insights into the subject matter such as strategies of the central
banking of the US and European Union (EU), international banking system, US banking legislation, and issues on credit and
risks management/controls; approaches for increase of the real GDP per capita, disposable income and dynamics of maximum
employment and economic growth. Michael has created the chart of the chain effects of the three monetary policy tools in
terms of the expansionary and contractionary monetary policy, illustrating how the objectives of lower inflation and economic
growth are predicted. He has also explained the theoretic and algebraic relations of tax revenues, government expenditures,
budget deficits, and the changes in the monetary base and in Treasury bonds held by the public and how this government
budget constraint works.
Professor of Macroeconomics and Investments, at Manhattan College
Prior to the appointment to New York University, Michael was appointed to a faculty member at Manhattan College. As a
professor of macroeconomics, he has taught the concepts and principles of macroeconomics and the determinants of the
production and price levels in the macroeconomy. Topics covered include employment, inflation, GDPs/economic growth;
fiscal policy, federal budget and national debt; money and banking, the structure of the Federal Reserve System, the policy-
making, and comparison of the effectiveness of the monetary policy tools. Michael has further lectured international
economics/finance and the global economy, with discussions on the purpose of the GATT and WTO, the role of the EU/euro
zone and NAFTA in international trade and the IMF in the international monetary system, as well as exchange rates, the
balance of payments and international reserves.
Correlating with the key objectives and goals, Michael has provided analytical tools including interpretation by graphics,
promoting interest and skills in analyzing and solving major economic problems and specific economic issues, and fostering
creative and objective thinking of policy alternatives and development of a better US and global economy.
As a professor of investments, the key topics Michael has focused included all investment alternatives, major types of
financial markets and financial instruments, the characteristics of money markets, capital markets, and debt and equity
investments; the techniques for securities evaluation, financial statement analysis, diversifies strategies and investment
management, given with equations, applications and solutions on the rate of returns from investments on, among others, the
foreign deposits exposed with foreign exchange risk and country risk. He has given explanations on the relations of returns
and ricks from investing, how to identify investment opportunities, and the principles governing the selection and management
of portfolios of financial assets.
As a former member of the New York State Banking Department, a bank licensing and regulatory agency with assets of the
institutions regulated nearly $2 trillion (in current dollars), Michael served as bank regulator and team leader for supervisions
and regulations over banks/financial institutions in accordance of relevant banking laws and regulations. He has assumed
responsibilities for overseeing the adequacy of managerial effectiveness, conducting audits and risks control assessments with
emphasis in early-detections and automated self-evaluations; and as part of his routine work, writing synopses, briefing in-
house counsel as needed and making recommendations for corrective and/or appropriate actions.
Meanwhile, being assigned to the internal department of criminal investigations, Michael has collaborated with the in-house
attorneys on financial crimes compliance, reviewing relevant documents and minutes for fact-findings and litigations.
In response to the legislative mandates to combat the lending abuses, Michael has been a strong proponent of consumer
rights, responsible in a wide variety for fighting for the detection and control of predatory lending, instead implementing fair
lending practices and consumer protections laws.
Leadership in Government and Public Policy/Administration
Late 1990’s and early 2000’s, sub-prime lending problems has apparently been the source of the real estate bubble particularly
the Asian financial chaos that led to a global financial crisis. As a team leader, Michael was assigned to monitor a lending
institution which was ordered to pay a multimillion-dollars fine for non-compliance; further, Michael effectively scrutinized the
operations of a financial institution in New York State, leading to a fine at a large amount for the Unfair or Deceptive
Acts/Practices. This was the first time that this governmental bureau took this type of enforcement actions in conjunction with
seven other states. This record proves Michael is capable of fighting for consumer protections and public interests, and
contributing to the US banking and financial system in a more safe and sound manner.
Affiliations and Travels
Michael has affiliated with a number of political/public organizations named a few, a life-membership with Binghamton
University Alumni Association since 2005; as a member of the American Society for Public Administration, 2004-2007; He
has served on the Board of Directors of a SUNY college alumni association, 1995-2003; holding the current and past
memberships with Republican National Committee, and Committee Member of the New York Republican State and County
Committees. With awareness of geopolitics and multicultural values, Michael has extensive travels, by air and cruises, to
countries/regions including Europe: United Kingdom, etc; Asia-Pacific: China, Guam (US), Japan, Korea (Republic of),
Malaysia and Thailand; North America: Bermuda (Br.), Canada, and most of the major cities in the US; and the Caribbean:
Puerto Rico, Turks & Caicos (Br.) and Virgin Islands.
Michael has been active in foreign affairs and political arena. Here’s a few exemplars of his distinguished involvements:
* Participation in the multi-days symposium of the Fed in the 21st Century at the Federal Reserve with discussions on the
latest legislation in monetary policy, exclusively for the college and university professors, 2010
* Initiatives of the world economy briefings with insights of the global economy and outlook presented by a UN official at
the UN, exclusively for the group of his NYU students, respectively in 2008 and 2009
* Recipient of an invitation joining the 2004 World Leadership forum-dinner with the foreign minister of a major EU nation,
the world leaders and dignitaries, with honor to share their valuable perspectives
* Participant in the international partnership conferences for the past several years, meeting the UN officials and diplomats
including ambassadors and consuls general from dozens of countries around the world.
Family values is seen important. Living in Midtown Manhattan, Michael is married, with three grown children who are his
pride and joy, as they all born in the US, did seek a quality education right here in the US, pursue a happy life … and choose a
career path that they love, in order to make their dreams come true. His wife working for a government for more than ten
years; both his youngest daughter and son-in-law, holding Juirs Doctor (JD) degrees, are lawyers/barristers admitted to the
State and federal courts; his eldest daughter, holding a BA degree from Fordham University, is a departmental director of a
major multinational corporation, and his son, holding a BBA degree, is an assistant vice president of a Fortune-100 company’s
Testimonials and Praise He Earned
Michael’s reputation is built upon his integrity, broad knowledge and prudence. At times, he has received numerous
compliments and praise from both students and his supervisor. Here’s a few of exemplars written in response to the news
about his intention to quit from NYU.
. . . .
“… Of all my former educators here at NYU and prior to college, I’d been hard pressed for find a professor who was so
hardworking, enthusiastic, and went so above and beyond for each of his students … Thank you for everything! I really enjoy
being a part of your class and learned a great deal about economics, financial markets and banking practices – knowledge I
am using at my current internship, and will undoubtedly use in the future.” MC, NYU, 2009
. . . .
“Thank you for such an enjoyable and informative class. I am leaving this class with a truly better understanding of the
American banking and financial system, and found this class a compelling and challenging
course.” YC, NYU, 2009
. . .
“… It was one of the best classes I have taken at NYU” SM, NYU, 2010
. . .
“ … Your very able contribution to the undergraduate program which could not have functioned as effectively as it has
without your efforts … You have been a tremendous assets to the teaching staff … Thank you most sincerely for all that you
have done with us” his supervisor at NYU
The testimonial means everything. It further evidences the fact that Michael has competence, leadership and excellent
|Committee of Friends of Michael Chan
PO Box 2995
New York, NY 10163-2995
|© & ® 2012-2013 Committee of Friends of Michael Chan Copyrights and All Rights Reserved
|" to Mr. Michael W Chan . . . in deep appreciation for generously helping President Reagan
rekindle our faith in our nation and our hopes for the future" late President Ronald Reagan
The Most Important Issues in Congress He would Address if Elected
The defining issue in this campaign is still the economy and how to create the most jobs. Thus, his top priority he would
address will be economic growth. The foundation of economic growth is capital investment, both by government and by
private companies. Capital investment generates the wealth, creates jobs and increases the income of the investor. Michael
strongly believes the approach, promoting capital investment by suppliers will allow companies to hire more people, thereby
decreasing the unemployment rate.
To improve the economy, Michael stresses policymakers should focus on reforms that increase production, saving, and
(capital) investment. Lessen government spending and lower tax rates are the best ways of using fiscal policy to boost
Other Important Issues
Good governance would be other importance. Michael believes in fostering good governance by increasing integrity,
accountability and transparency. He will, if elected, promote a performance-based government truly for the people and by
the people, by demanding a higher standard of excellence for practitioners serving in public administration by implementing
managerial effectiveness, efficiency, and responsiveness to you my constituents.
For more information, please read relevant pages of his website at http://mwchan.us/platform
What Makes Michael the Best Candidate for Congress
Michael understands bureaucracy…..but he is not bureaucratic; Michael is familiar with politics….. but he is not political.
With his past experience, which is vast and wide, he brings not only expertise in many areas that are concerning to you, my
constituents, but he also has solid foundation and in-depth knowledge of the way our government should be structured in
order to work more efficiently and responsibly for the American people.
With national and global visions, Michael has, in the past, reviewed and evaluated the Charter of the United Nations (UN),
examined on how the US government, legislative systems and political institutions/actors function, and analyzed
administrative responsibility and accountability. He has assessed and critiqued global bureaucracies and politics with
comparative perspectives in the many policy areas among the industrialized/emerging countries/regions. Michael has made
research on the nature and behaviors of the Committee on Banking Supervision of the Bank for International Settlements,
the international banking system, and how the capital adequacy standards is formulated and implemented with the Basel
Accords and adopted globally by the banking institutions of more than one hundred (100) countries; His investigative
research extended to the legislative history and definition of national anti-money-laundering (AML) and the UN global AML
initiative to name a few, as well the phenomena and statutes controlling corruptions in selected nations. Because of his
experience and research in these areas, Michael has a deeper understanding and broader visions of how our government
should respond to the various issues our nation face today.
The choice is clear! As a former NYU professor of economics and former bank regulator, Michael has a strong grasp of
what fiscal responsibility should look like and the solutions to create a stronger and more fiscally responsible nation. His
strong academic credentials and expertise with broader visions provides him the ability and skills necessary to end wasteful
spending, restore and maintain a more strong and prosperous America! His background in macroeconomics is what is
needed in Congress to get our nation’s fiscal house in order. Indeed, being in a role as both a practitioner and professor,
Michael is the only candidate who would better integrate theories and practices and get the job done!
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