What Professors Think About the Current Financial Crisis

Though I’m ecstatic about the election of Barack Obama as the 44th President of the United States, he’s inherited a host of seemingly insurmountable problems that has been left behind by the Bush Administration. Among these is the Financial Crisis, of which we are all aware of by now. (unless you’ve been living in a cave)
crisis

Working at docstoc, my job has been to be the middlewoman between the users and our support team, and it’s evident that people are coming to our site for free information about their businesses, education, legal, financial, or creative needs.

So, I decided to start contacting various Economics professors from the top Business schools across the country to get their thoughts/opinions about our current Economic state, how we got here, what needs to be done to get us out of it, and more.

Here are a few:
“Subprime Mortgage Mess; Financial Crisis Primer” by Professor Robert Wright, a Financial Historian at the Stern School of Business and author of “One Nation, Under Debt.”

The Psychology and Economics of Household Investment Decisions by Professor David Laibson, of Harvard University. Professor Laibson was recently in WIRED Magazine’s “2008 Smart List; The Top 15 The Next President Should Listen To,” for his behavioral Economics studies stating that consumers have the ability to be smarter about their decisions with “an institutional nudge in the right direction.”

Lessons from the Crisis by Professor Franklin Allen, of the Wharton School of Business and Co-Director of the Financial Institutions Center. This presentation was given at the European University Institute on October 16, 2008

November 6, 2008. Tags: , , , , , , , , . Economics, documents.

2 Comments

  1. Jason replied:

    Since you pose the question – “What needs to be done to get us out of it?” – I have an idea that I would like to share. I submitted a proposal to the treasury department suggesting that they put a portion of the $700 billion that was given to TARP into a fund that intends to help homeowners who are facing foreclosure. I believe I figured out a way to simultaneously help homeowners and banks at a lower long term cost than the plans they are currently considering. I am also open to comments and suggestions on how to improve the plan and ideally would like to create a brainstorming session. If you interested in learning more, go to: http://themapfund.wordpress.com/2008/10/30/the-map-fund/ or simply go to http://www.themapfund.wordpress.com

  2. girlatastartup replied:

    Hi Jason, I’d love to take a look at the proposal. Can you send it to kat@docstoc.com?

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