“The End of Wall Street: Why IT Happened” is a video segment that looks at the causes of the financial crisis, from Alan Greenspan’s leadership of the Federal Reserve to Ben Bernanke and Henry Paulson’s decision not to bail out Lehman Brothers. It helps clarify the confusing role of derivatives and ratings agencies in the crisis. The website where the video segment is housed also offers learning objectives, discussion questions, textbooks and related sources, and a transcript of the video. For extra teaching materials, faculty can sign up for free or log in if a member of Mindgate Media.
• Students will be able to appreciate a quick yet in-depth examination of the causes of the financial crisis, from Alan Greenspan’s leadership of the Federal Reserve to Ben Bernanke and Henry Paulson’s decision not to bail out Lehman Brothers. This segment helps clarify the confusing role of derivatives and ratings agencies in the crisis.
• Students will get an idea on the role of regulators, banks and credit rating agencies as well as how they are interrelated such that a downfall of one can lead to a devastating domino effect to others with shattering consequences on families and households for a long time.
• Students will learn to define derivatives and credit rating agencies, and explain their role in the crisis
Target Student Population:
• Beginning business students
• Economics majors
• High school students taking government and economics
• General college students
• Educators of multiple disciplines
Prerequisite Knowledge or Skills:
Basic computer and browser skills
Type of Material:
• The presentation can be used as an opening OR a summary/closure to the chapter on ‘Money & Banking’ in Macroeconomics both in class and online.
• It can also be used to facilitate in-class and/or online discussion to connect to the related concepts covered.
• The online video can also be used as a team project or report to relate the content to their immediate homes and/or neighborhood from 2008 to now.
Browsers: Internet Explorer & Firefox, Flash
Evaluation and Observation
The video is of a high quality and provides a succinct view of the impact of decisions made by major stakeholders in the financial sector of the United States in 2008.
The specific site is part 2 of a 3 part series from Wall Street Journal [WST] website. The 1st and 3rd parts are placed at the end of the page under the heading ‘Related Media’, but there is no reference to it. Some form of indication is warranted to allow the user to get the full picture of the report.
Potential Effectiveness as a Teaching Tool
The video segment offers commentary from multiple individuals. It gives evidence or proof of information with ancillary video segments. There are learning objectives and discussion question that help guide students. The transcription of the video is helpful for student who are conducting research. It can also be used to facilitate in-class and/or online discussion of what's currently happening in the financial sector to the related concepts covered.
The video does not do a terrific job in assessing viewers prior knowledge. A beginner student may have difficulty understanding the concepts. The video also seems to be biased and opinionated. It would not be ideal as a primary source for research.
The video does not do a terrific job in assessing viewers prior knowledge. An beginner student may have difficulty understanding the concepts.
The video also seems to be biased and opinionated. It would not be ideal as a primary source for research.
Ease of Use for Both Students and Faculty
The main strength of this video is to get a quick recap of the events leading to the financial downfall in recent history. Although the video was done in 2009 and has references to the Bush Administration, it can still be used to get a general idea on the subject and then discussing the follow-up actions taken by the Obama Administration.
The video is easy to use. It can be maximized to full screen. The volume is adequate and the picture is clear.
The link to WST site is not a direct link to the video; one needs to conduct a search for the specific video at the site.