All Stars Project INC.

The All Stars Project, Inc. honored Sheila Bair,  Chairman, Federal Deposit Insurance Corporation (FDIC),  with an honorary "Doctor of Development" award for her vital interest in outside of school learning at a benefit luncheon for its flagship youth leadership program, the Joseph A. Forgione Development School for Youth at the Hilton New York.

"I'm very proud to receive this special award today. And I'm proud of what it represents -- working together to support our youth, helping them develop into productive adults and preparing them to build strong and vibrant communities not only in New York, but across the country," said Ms. Bair.

Ms. Bair cited an FDIC report issued December 3 which found that one in four American households (60 million adults, many heads of poor and minority families) don't have a bank account, relying instead upon payday loans, check-cashing services, and other costly alternatives to traditional banks. She emphasized the importance of fostering financial literacy for young people.

"Sheila is someone who challenges conventional wisdom and institutional failure and we have a strong respect for people with the courage and tenacity to do that, "said Gabrielle L. Kurlander, president and CEO of the All Stars Project.  "The award the young people are giving her today not only recognizes her influence in Wall Street and Washington, but also honors her for helping young people become financially literate and relating to them not just as citizens of the nursery but citizens of the world."

At the luncheon, Dr. Lenora Fulani, founder, Operation Conversation: Cops and Kids, a new All Stars Project program, led a demonstration of the program with 4 police officers and 5 black and Latino youth performing improvised skits together.  The program, founded in 2006 in response to the shooting death of Sean Bell, has brought 1500 police officers and black and Latino youth together to create new conversations and to build a new relationship to each other. 

Also honored were Bart M. Schwartz, attorney and private investigator, and Anne Sylvester, Managing Director, J.P. Morgan  with an honorary "Doctorate of Development" award.

The event drew three hundred and fifty executives from Fortune 500 companies and financial services firms across the New York region, including JP Morgan, Bank of America and MetLife, and raised $506,000 for the program.  In addition, Richard Sokolow, Chair, Board of Directors of the All Stars Project, announced a $1 million gift given by hedge fund leader Paul Singer to support the All Stars.