How has the relatively recent (2008 or so) economic downturn affected you or members of your family? Will this situation change your educational or career plans?

 

How has the recent economic downturn—roughly starting in 2008—affected you or your family members

How has the recent economic downturn—roughly starting in 2008—affected you or your family members? Will this circumstance alter your intentions for your schooling or career? It is obvious that many people have lost their employment, and the number of foreclosures on mortgages has reached historic highs. Has this affected how you perceive your future? Do you find it troubling that giant firms operating under our “free market” system need “bailouts” to stay afloat while CEOs receive sizable bonuses? What about national “bailouts”? Do these indicate an unsound economic system?

The majority of you are probably aware of the current Wells Fargo Bank controversy. It’s almost astounding how many fake accounts are established and how many naïve customers end up paying fees. Do you believe the argument that higher management was ignorant of the situation? This financial firm is not the only one to have engaged in this kind of fraud, but it is unquestionably the biggest in recent memory. Are the bigger banks “too big” to be controlled and regulated?

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Do you think the way other nations and cultures regard the United States has changed as a result of the economic crisis or the numerous business scandals here? Do you believe that the current trend of globalization makes us more susceptible to fluctuations in the economy?

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