Sunday, December 11, 2011
RJA #15b: Reflection
I learned how to write in APA style in this class. I enjoyed learning how to use all of the web resources that we used throughout the semester. I really enjoyed the research I did on my topic. I felt that I learned a lot about my topic, and also the other topics of my classmates. I liked being a part of surveys and feedback for classmates.
Monday, November 28, 2011
RJA #14: Field Research Report
Here is a link to the data I collected in the survey I performed.
For this assignment, I created the survey, asking questions that I believe to be most important in regards to my topic. I then posted the link to the class, and got a few responses from classmates. The best response I received, however, was from my facebook friends. I learned a lot from performing this survey. I learned that the financial crisis affected nearly everyone on at least some level. A classmate pointed out that I made an error on the question of whether anyone you know has lost their jobs. I didn't realize that I forgot to include a N/A response. I find it shocking that out of 14 people who took the survey, he was the only person who did not personally know someone who has lost their job since 2008.
For this assignment, I created the survey, asking questions that I believe to be most important in regards to my topic. I then posted the link to the class, and got a few responses from classmates. The best response I received, however, was from my facebook friends. I learned a lot from performing this survey. I learned that the financial crisis affected nearly everyone on at least some level. A classmate pointed out that I made an error on the question of whether anyone you know has lost their jobs. I didn't realize that I forgot to include a N/A response. I find it shocking that out of 14 people who took the survey, he was the only person who did not personally know someone who has lost their job since 2008.
RJA #13b: Presentation Plan
I plan to highlight and outline my topic, starting with the historical context of the crisis, including the major factors that my research has led me to believe to have helped in causing the financial crisis. I will then go through each of these factors, and detail why they had an impact on the severity of the crisis. Finally, I will describe which factor I believe had the most significant impact on the crisis and the economy as a whole.
Monday, November 21, 2011
RJA #13a: APA-Style Annotated Bibliography, Part 2
Milken, M., Becker, G., Scholes, M., Spence, M., & Phelps, E. (June 01, 2008). US Financial
Crisis Is a Black Eye for Capitalism. New Perspectives Quarterly, 25, 3, 70-73.
The writers of this piece are all Nobel laureates in economics. In this piece, they have a discussion on the downsides of capitalism.
Harvey, D. (2010). The enigma of capital, and the crises of capitalism. (Kindle ed.). New York, NY: Oxford Univ Pr.
This paper is a Government Accountability Office release that includes testimony given to the GAO in their investigation into the financial crisis.
Economic Populist. (Producer). (2011). Subprime mortgage volumes. [Web Graphic]. Retrieved from http://www.economicpopulist.org/content/subprime-meltdown-over-now-comes-bad-news
This will be one of the graphics I plan to use to highlight the number of subprime mortgages in the years leading up to the 2008 crisis.
Federal Reserve. (Producer).(2001, November 7). Consumer credit outstanding. Retrieved from http://www.federalreserve.gov/Releases/G19/hist/cc_hist_sa.html
I used this site for information regarding the amount of revolving debt historically speaking.
Wolff, R.,PhD. (Performer) (2009).Capitalism hits the fan [Web]. Retrieved from http://www.capitalismhitsthefan.com/
This video is a great supplement to watch on the topic of the financial crisis, this professor has a very informative take on the crisis.
Crisis Is a Black Eye for Capitalism. New Perspectives Quarterly, 25, 3, 70-73.
The writers of this piece are all Nobel laureates in economics. In this piece, they have a discussion on the downsides of capitalism.
Harvey, D. (2010). The enigma of capital, and the crises of capitalism. (Kindle ed.). New York, NY: Oxford Univ Pr.
This paper is a Government Accountability Office release that includes testimony given to the GAO in their investigation into the financial crisis.
Economic Populist. (Producer). (2011). Subprime mortgage volumes. [Web Graphic]. Retrieved from http://www.economicpopulist.org/content/subprime-meltdown-over-now-comes-bad-news
This will be one of the graphics I plan to use to highlight the number of subprime mortgages in the years leading up to the 2008 crisis.
Federal Reserve. (Producer).(2001, November 7). Consumer credit outstanding. Retrieved from http://www.federalreserve.gov/Releases/G19/hist/cc_hist_sa.html
I used this site for information regarding the amount of revolving debt historically speaking.
Wolff, R.,PhD. (Performer) (2009).Capitalism hits the fan [Web]. Retrieved from http://www.capitalismhitsthefan.com/
This video is a great supplement to watch on the topic of the financial crisis, this professor has a very informative take on the crisis.
Saturday, November 12, 2011
RJA #12c: Visual Aids
I think that there are many visual aides that I will be able to include in my paper. I will use the vast resource of graphics that are available on the official Financial Crisis Inquiry Commission website: http://fcic.law.stanford.edu/resource
One set of graphics that I found that I believe will be very informative to the readers of my paper describe the ways in which the mortgage securities operate, i.e. one called 'THE THEORY OF HOW THE FINANCIAL SYSTEM CREATED AAA-RATED ASSETS OUT OF SUBPRIME MORTGAGES gives a detailed picture of how exactly these mortgage backed securities came to have AAA ratings.
Another graphic in the mortgage securities set is one titled COLLATERALIZED DEBT OBLIGATIONS and shows a simplified version of how CDO's work.
A third graphic I plan to use is titled REJECTED LOANS WAIVED IN BY SELECTED BANKS, and it is a table of the percentages of loans 'waived in' or approved, regardless of the fact that the borrowers were denied in the application process.
Another graphic that I really like is the one titled LOAN PERFORMANCE IN VARIOUS MORTGAGE MARKET SEGMENTS. This one is a bar graph showing that the subprime segment had nearly a 40% average delinquency rate in 2009, among other figures.
Lastly, I will use the graphic titled NOTIONAL AMOUNT OF OTC DERIVATIVES OUTSTANDING, and it shows the sheer volume of market value that derivatives held in these years.
One set of graphics that I found that I believe will be very informative to the readers of my paper describe the ways in which the mortgage securities operate, i.e. one called 'THE THEORY OF HOW THE FINANCIAL SYSTEM CREATED AAA-RATED ASSETS OUT OF SUBPRIME MORTGAGES gives a detailed picture of how exactly these mortgage backed securities came to have AAA ratings.
Another graphic in the mortgage securities set is one titled COLLATERALIZED DEBT OBLIGATIONS and shows a simplified version of how CDO's work.
A third graphic I plan to use is titled REJECTED LOANS WAIVED IN BY SELECTED BANKS, and it is a table of the percentages of loans 'waived in' or approved, regardless of the fact that the borrowers were denied in the application process.
Another graphic that I really like is the one titled LOAN PERFORMANCE IN VARIOUS MORTGAGE MARKET SEGMENTS. This one is a bar graph showing that the subprime segment had nearly a 40% average delinquency rate in 2009, among other figures.
Lastly, I will use the graphic titled NOTIONAL AMOUNT OF OTC DERIVATIVES OUTSTANDING, and it shows the sheer volume of market value that derivatives held in these years.
RJA #12b: APA-Style Annotated Bibliography, Part 1–
Lowenstein, R. (2010). The end of wall street. (1st ed.). New York, NY: Penguin Press.
Roger Lowenstein has worked as a wall street journal reporter, and is now a columnist for Bloomberg. The book describes in detail the years leading up to the crash in 2008, and advocates against the idea that Wall Street is capable of self regulation.
Lewis, M. (2010). The big short. (1st ed.). New York, NY: W. W. Norton & Company.
Michael Lewis was once a wall street adviser, and has since written two books about his experiences there. He outlines the use of securities and derivatives and their roles in the collapse of the markets in 2008.
Lambert, E. (2011). The futures. (1st ed.). New York, NY: Basic books.
The author, Emily Lambert, is senior writer for Forbes, covering finance and trading. The book discusses the inner details of the Chicago Mercantile Exchange and Chicago Board of Trade, which were the first futures market in the world. The book outlines methods of speculation in these markets, and details the financial trading markets.
Roger Lowenstein has worked as a wall street journal reporter, and is now a columnist for Bloomberg. The book describes in detail the years leading up to the crash in 2008, and advocates against the idea that Wall Street is capable of self regulation.
Lewis, M. (2010). The big short. (1st ed.). New York, NY: W. W. Norton & Company.
Michael Lewis was once a wall street adviser, and has since written two books about his experiences there. He outlines the use of securities and derivatives and their roles in the collapse of the markets in 2008.
Lambert, E. (2011). The futures. (1st ed.). New York, NY: Basic books.
The author, Emily Lambert, is senior writer for Forbes, covering finance and trading. The book discusses the inner details of the Chicago Mercantile Exchange and Chicago Board of Trade, which were the first futures market in the world. The book outlines methods of speculation in these markets, and details the financial trading markets.
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