2008 Woodie Awards
"It is an anxious time. A worrisome time. Probably even a dangerous time. It's a historic time. A time that we will be teaching about in our classrooms for some time." And so began Dean Jay Light presenting to a packed Burden Auditorium on Tuesday, September 23 for "Turmoil on the Street: Fathoming the Financial Crisis", a panel discussion featuring University Professor Robert Merton, Professor David Moss, Lecturer Nicolas Retsinas, and Senior Lecturer Clayton Rose. (0) comments
My mom recently asked me to explain how this financial crisis happened. I didn't have a great answer, so I decided to draw an analogy and then take from there. Subprime lending is kind of like an ice cream truck lending money to kids to buy ice cream during a hot summer - even if their allowances don't support that kind of spending. (2) comments
