GLOBAL FINANCIAL CRISIS OF 2008 - INSIGHTS

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A documentary movie screening was organized by the finance club "Harmoney" of the MBA department on 8th April 2022 and the event also continued on the 22nd of April 2022 at CHRIST (Deemed to be University), Pune Lavasa Campus. The documentary screened was titled “Panic: The untold story of the 2008 financial crisis”. The event was intended to enhance the understanding of the students regarding the most severe financial crises of the 21st century. Considering the causes and the consequences of the crisis, it was expected that the documentary would help the students in developing a deep understanding of financial and economical concepts such as financial engineering & innovation, risk, risk management, bankruptcy, economic policy and the role of government and central banks in containing crises.


The screening had a total of 21 students in attendance. Lalitha Choudhary S and Sahil Pradeep were the hosts of the event. The event started welcome address was given by Lalitha Choudhary. Panic: The Untold Story of the 2008 Financial Crisis is a feature-length documentary that attempted to break down the complex series of judgments and errors that contributed to the crisis, and examined the consequences that continued to resound in the lives of everyday Americans over a decade later. The film details how each central player worked with politicians to influence and enact legislation to avoid a total collapse, the short-term fixes that served as a band-aid to a more enduring dilemma and the public relations struggles that played out in concert with the crisis. It gave insights into how the crisis reverberated throughout the political spectrum and went a long way in determining the elections of Presidents Barack Obama and Donald Trump.


Faculty coordinator Dr Danish also explained the key financial terms and concepts that the students encountered while watching the movies. Further, two series of discussions related to the financial crises were also initiated by Dr Danish. The first discussion was regarding how the said crises started spreading in the US economy. The second discussion was concerning the TARP (Troubled Asset Relief Program) initiated by the US Secretary of the Treasury Mr Hank Paulson in order to both contain and recover from the crises. It was overall a very informative at the same time an engaging way of learning for the students.




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