Bi-Weekly Discussion - Banks, Bubbles & Bailouts

Hosted by Brian B.

Super Organizer

Philadelphia Political Agnostics

Details

We're currently hosting our discussions at Café Walnut, near the corner of 7th & Walnut in Olde City, just across the street from Washington Square Park. The cafe's entrance is below street level down some stairs, which can be confusing if it's your first time. Our group meets in the large room upstairs.

Since we're using the cafe's space, they ask that each person attending the meetup at least purchase a drink or snack. Please don't bring any food or drinks from outside. If you're hungry enough to eat a meal, they have more substantial fare such as salads, soups & sandwiches which are pretty good and their prices are reasonable.

The cafe is fairly easy to get to if you're using public transit. With SEPTA, take the Market-Frankford Line & get off at the 5th Street Station (corner of 5th & Market), and walk 2 blocks south on 5th and then turn right on Walnut Street and walk 2 blocks west. With PATCO, just get off at the 9th-10th & Locust stop and walk 3 blocks east & 1 block north. For those who are driving, parking in the neighborhood can be tough to find. If you can't find a spot on the street, I'd suggest parking in the Washington Square parking deck at 249 S 6th Street which is just a half block away.

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BANKS, BUBBLES & BAILOUTS:
LOOKING BACK AT THE 2008 FINANCIAL CRISIS & GREAT RECESSION

INTRODUCTION:

In this discussion, we'll look back at the 2008 financial crisis and the "Great Recession" and look at the economic debates that followed as a way to gain a greater understanding of monetary policy, bank regulation, counter-cyclical fiscal policy. We'll finish up by turning to political psychology & moral philosophy to try to get some insight into why Americans were so deeply divided on the proper response to the financial crisis, as evidenced by the different proposals of the Tea Party & Occupy Wall Street movements.

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DIRECTIONS ON HOW TO PREPARE FOR OUR DISCUSSION:

The videos & articles you see linked below are intended to give you a basic overview of some of the major debates over the causes of & responses to the 2008 financial crisis. As usual, I certainly don't expect you to read all the articles & watch all the videos prior to attending our discussion. The easiest way to prepare for our discussion is to just watch the numbered videos linked under each section - the videos come to about about XX minutes total. The articles marked with asterisks are just there to supply additional details. You can browse and look at whichever ones you want, but don't worry - we'll cover the stuff you missed in our discussion.

In terms of the discussion format, my general idea is that we'll address the topics in the order presented here. I figure we'll spend about 30 minutes on each section.

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I. WHAT CAUSED THE 2006-7 HOUSING BUBBLE & THE 2008-9 FINANCIAL CRISIS? IS THIS A NORMAL OCCURRENCE WE CAN MANAGE THROUGH REFORMS, OR DOES IT POINT TO DEEPER PROBLEMS IN OUR ECONOMY - OR PERHAPS WITHIN THE DISCIPLINE OF ECONOMICS?

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