Suleiman Dula, Liam Cunningham, Kelechi Okoye-Ahaneku, Randy Smith Chin, Pushpender Singh
Our group agreed to do background research into the crisis before our meeting on Tuesday. We met in the library to discuss the topic and divide it into subsections. We agreed to focus generally on the origins of the crisis in the United States and the responses of the government there, while also looking at the global consequences. We set up a Facebook chat group and a shared Google doc where we can arrange meetings, and share research and ideas.
Plan
1. Smith: Introduction and background, deregulation of financial institutions, subprime lending, housing bubble.
2. Kelechi: Trigger of the crisis.
3. Suleiman: Spread of the crisis beyond the USA, collapse of Icelandic banks, Eurozone crisis.
4. Pushpender: Responses by the US government to contain the fallout - bailout of the banks, new legislation under the Obama administration to tackle deregulation.
5. Liam: Long-term effects on the financial industry, further responses by the government, effects on the global economy, on politics. Conclusion.
Plan
1. Smith: Introduction and background, deregulation of financial institutions, subprime lending, housing bubble.
2. Kelechi: Trigger of the crisis.
3. Suleiman: Spread of the crisis beyond the USA, collapse of Icelandic banks, Eurozone crisis.
4. Pushpender: Responses by the US government to contain the fallout - bailout of the banks, new legislation under the Obama administration to tackle deregulation.
5. Liam: Long-term effects on the financial industry, further responses by the government, effects on the global economy, on politics. Conclusion.
Good start but this is way too wide ranging. The hint is in the name 'brief' it is not a book about all the facets of crisis but a short research brief on a central element of the crisis. For example, just focus on residential mortgages, or the capitalization of banks, or the problem of credit scoring/insurance underwritting of financial products. Any *one* of these will give you plenty of research to work with for the 'brief'. Also, I suggest starting with the key recommendation and work backward - for example, BASEL III or mortgage underwriting, or Dodd-Frank in the US/ Vickers Report in the UK (here pick one strand of recommendation and link back to key element of crisis). This tends to be the case with the 2008 crisis, students get bogged down learning about the 'whole' crisis and forget to focus on one aspect for the policy brief.
ReplyDeleteHi Johnna, so you are saying we should just focus on one aspect of the financial crisis? So for e.g. all the members in the group work on only CDO's,CDS's,MBS's? Or does each of us have one specific aspect that we hone in on but not make it too far-reaching? Thanks for your constructive advice
ReplyDeleteAlso Suleimen is not part of the group anymore, so I don't think we will delve into the Eurozone crisis
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