Sebastion C. Lury
Special to the Critic
LSC’s hockey team looks to end the semester strong.
The semester break marks the end to the unofficial first half of the hockey season. The hockey team, a club sport at Lyndon State College, looks to continue its improvement, though their record may not show it. The team is currently 3-7 with two games remaining before break.
Coach Jonathan Davis admits that this not where the team would have liked to been at the break, but he is still proud of their accomplishments. One of the things he has noticed most of all is the camaraderie that the team has adopted.
“Practices are fun,” says Davis. “They enjoy each other’s company.” Davis speaks highly of the sense of team that the players present. The quality of play is still in progress.
“There is still room for development,” says Davis after emphasizing the improvement throughout the year of the entire team, especially the first and second year students.
“I couldn’t be more proud,” Davis says of the team as a representative for the school. “They represent the college well and manage themselves well.”
Davis recognizes several key players: co-captain forward Ricky Paparo, junior, of Colchester who had eight goals and 10 assists though the first eight games; co-captain forward Jordan Mosher, junior, of St. Albans who had 11 goals and 11 assists through the first eight games; co-captain goalie Tucker Labare of Underhill Center, senior, who had played every minute of the first four games; forward Cory Pronto, freshmen, of Newport who had eight goals and seven assists in the first eight games; defenseman T.J. Duggan, freshmen, of South Windsor, Conn. who had four goals and 11 assists in the first eight games; and forward Jeff Giroux, senior, of Derby, who had three goals and two assists in his first three games. Giroux had joined the team later in the season after serving as the goalie for the LSC men’s soccer team.
The team still has a long way to go in terms of a playoff run, with a couple of months of play resuming after the break.
Outside of hockey, the team has been a presence for the school. On Nov. 17, 2008, the team hosted a free skate for LSC students at the Fenton W. Chester Arena. The event was co-sponsored by Resident Life and was held between 9:30 p.m. and 11 p.m., drawing an attendance of roughly 150 students.
The team is also holding a fund-raiser between now and the end of the season. The team is selling apparel such as winter hats a.k.a. “beanies,” t-shirts, and jackets. The apparel can be bought either at home games or at Jonathan Davis’ office.
Thursday, December 11, 2008
Random acts of vandalism
By Josiah Stewart
Critic Staff
Several acts of vandalism involving paint that had been stored in ACT 210 have plagued Lyndon State College over the past two weeks.
The room that was used to store the paint has seen the worst from the vandals.
“Those rooms are usually locked, and it wasn’t locked, and the paint that the students were using to do their ‘illegal’ artwork was in that room, and it is my responsibility because I thought that it was secure and it wasn’t,” Elizabeth Norris, department chair of music and performing arts, said.
Norris received a report on Dec. 2, and believes that it was a janitor who discovered the first bit of vandalism: yellow paint that had been dumped into the chalk board tray in ACT 210.
“That afternoon a student from my class said ‘oh look someone dumped paint into the heating vent’ so someone had taken the yellow paint and poured it down the heater, and it dripped through to the ground below,” Norris said, “I thought that I better also check the piano, so I opened the top of the piano looking for yellow paint and did not see any. I thought that it looked a little bit odd but I didn’t register what I was seeing because I was looking for yellow and I just looked real quick.”
On Monday Dec. 8, while Norris was having her departmental recital, she discovered that the piano she had checked earlier had been a victim of the vandals as well,
“I went to use the piano and it felt like I was playing on a table, and when I opened it I realized the whole inside was filled with brown paint so it blended in right over the hammers. So they lifted the top and poured brown paint all over the inner workings. I don’t yet know if the piano is salvageable. I still have to talk to someone about that,” Norris said.
Norris explained that although the Shelter Showcase was not greatly attended, people from off campus were free to come in, “so it could have been anyone.”
Another bit of vandalism on campus occurred on the bottom floor of the Vail building in the same spot that previously held three pieces of artwork that had only recently been painted over. “Someone took a black marker and wrote ‘Erase lies, not art,’ which I thought was very interesting, and it looks like someone tried to scrub it off and it isn’t coming off,” Norris said.
Norris also explained the reason behind the three paintings in Vail being painted over, “I found out that it was on account of supposed hidden drug messages in the paintings, because the one that said ‘Keep Lyndon Green’ had mushrooms in it and apparently someone from administration thought that it had to do with hallucinogens, and the other was an image of spray cans and this was thought to deal with inhalants.”
“Tenure or no tenure, I still would have done this project because in my brain it doesn’t really hold a connection to the project,” Norris said, “but I am on the other side of tenure now so I can’t say for sure, but the bottom line is that we are here for the students and for student education and I will do whatever it takes to teach my students something important.”
Critic Staff
Several acts of vandalism involving paint that had been stored in ACT 210 have plagued Lyndon State College over the past two weeks.
The room that was used to store the paint has seen the worst from the vandals.
“Those rooms are usually locked, and it wasn’t locked, and the paint that the students were using to do their ‘illegal’ artwork was in that room, and it is my responsibility because I thought that it was secure and it wasn’t,” Elizabeth Norris, department chair of music and performing arts, said.
Norris received a report on Dec. 2, and believes that it was a janitor who discovered the first bit of vandalism: yellow paint that had been dumped into the chalk board tray in ACT 210.
“That afternoon a student from my class said ‘oh look someone dumped paint into the heating vent’ so someone had taken the yellow paint and poured it down the heater, and it dripped through to the ground below,” Norris said, “I thought that I better also check the piano, so I opened the top of the piano looking for yellow paint and did not see any. I thought that it looked a little bit odd but I didn’t register what I was seeing because I was looking for yellow and I just looked real quick.”
On Monday Dec. 8, while Norris was having her departmental recital, she discovered that the piano she had checked earlier had been a victim of the vandals as well,
“I went to use the piano and it felt like I was playing on a table, and when I opened it I realized the whole inside was filled with brown paint so it blended in right over the hammers. So they lifted the top and poured brown paint all over the inner workings. I don’t yet know if the piano is salvageable. I still have to talk to someone about that,” Norris said.
Norris explained that although the Shelter Showcase was not greatly attended, people from off campus were free to come in, “so it could have been anyone.”
Another bit of vandalism on campus occurred on the bottom floor of the Vail building in the same spot that previously held three pieces of artwork that had only recently been painted over. “Someone took a black marker and wrote ‘Erase lies, not art,’ which I thought was very interesting, and it looks like someone tried to scrub it off and it isn’t coming off,” Norris said.
Norris also explained the reason behind the three paintings in Vail being painted over, “I found out that it was on account of supposed hidden drug messages in the paintings, because the one that said ‘Keep Lyndon Green’ had mushrooms in it and apparently someone from administration thought that it had to do with hallucinogens, and the other was an image of spray cans and this was thought to deal with inhalants.”
“Tenure or no tenure, I still would have done this project because in my brain it doesn’t really hold a connection to the project,” Norris said, “but I am on the other side of tenure now so I can’t say for sure, but the bottom line is that we are here for the students and for student education and I will do whatever it takes to teach my students something important.”
Friday, December 5, 2008
Passage to Egypt
Photo courtesy of Pat McAree
Photo courtesy of Pat McAree
Gwen Cook
Critic Staff
Over Thanksgiving break 37 adventurers, including myself, went to the Arab Republic of Egypt for 10 fun and information filled days.
We saw plenty of famous sights such as the three Giza Pyramids, the sphinx and the Valley of the Kings. We traveled by plane and bus and boat to historical cities like Cairo, Aswan and Luxor. We had a very intelligent tour guide who told us more information than we could ever hope to retain. Egypt was a fantastic place for a vacation.
It was also the biggest culture shock I’ve ever received.
The four different things that I think stuck with me the most were the food, vendors, sanitation and transportation.
Egypt was the best crash diet I’ve ever been on. The food’s good but you have to do some research first. You can’t eat leafy veggies because the fertilizer is different than what we’re used to and they clean their food with Nile River water. You can’t have ice cubes because the water comes from the Nile as well. I might have gone overboard with my safety precautions by only drinking bottled water and eating bread but then again, I didn’t get sick.
Oh yea, and I didn’t have Egyptian McDonald's. If it makes you sick to eat that nasty stuff in the states what makes you think it won’t overseas?
The Nile is dirty. I never got a chance to ask about sanitation regulations but you could see there was a lack of it in many places. Like in ancient times, the Nile is their life line. Everything they do is tied to that river. I saw many people fishing, washing and drinking from the river. They were also doing this right next to heaps of trash and with a film of oil over the top. I don’t want to insult the people and make them seem like savages because they are far from it. I just think that there should be stricter regulations set in place to preserve the most important aspect of their lives.
Vendors, where do I even begin to start on vendors? They are nothing like home, that’s for sure. They get in your face and shove their wares right under your nose. They get way closer than even close friends should get. No is not a word that they accept. If you aren’t really strict with them in your dealings they’ll follow you around way past their stand in hopes that this will make you go back. I was almost pathetically grateful to get back to the states to the vendors that go out of their way to not help you. I think I can deal with that better.
I think the biggest shock to me was the transportation. Our tour guide Hashim told us that Cairo had the worst traffic in the world and I agree with him. All throughout our visit I was shocked and amazed that there weren’t more accidents. We actually were driving in Aswan and sideswiped a little truck with our big Coach bus. Our driver didn’t seem to mind and continued on at his hazardous pace.
Drivers weave in and out of traffic at an almost breakneck speed through cars, trucks, horse and buggies, and donkey pulled carts. In the cities drivers leave their lights off at night and only use them to flick at other traffic or pedestrians. If that doesn’t work than they honk their horn to warn. All through the night the sound of horns blare until you think you’re going to go completely insane.
Pedestrians are viewed as more of an inconvenience than anything else. Drivers won’t stop if they see someone crossing but will just honk their horn and expect you to get out of the way ASAP. Crossing the street is even more dangerous at night especially if you aren’t wearing reflective clothing.
Egypt was a trip that I know I’ll never forget. Not all the culture shocks were bad and I learned a great deal about their lifestyles. But after all is said and done I appreciate what I have back here at home so very much more.
Smell the Ocean Air, in the Elevator?
By Sebastion Lury
Special to the Critic
Students may have noticed the sticker in the Vail elevator had expired and that it smelled of sea salt; but there is a good explanation for each.
“Everything’s up to date,” says Tom Archer, director of physical plant at LSC, “and they always were.” The elevator, Archer explains, is inspected two to three times annually by Vermont Inspection Services and the college has a maintenance agreement with Bay State Elevator to provided necessary maintenance every three months or so.
“It was a paperwork glitch,” says Archer. The reason for the expired sticker is a paperwork issue, not a safety issue according to Archer. Students will notice that the elevator now displays a faxed copy of the updated sticker and will continue to do so until the physical copy is received.
However, that does not explain the awkward smell on the first floor.
That smell is the byproduct of LSC’s efforts to be environmentally friendly. Archer explains that instead of the elevators using hydraulic oil, it uses vegetable oil.
According to Archer, most piston-powered hydraulic systems leak a bit due to the downward thrust of the piston into the oil. However, the difference between hydraulic oil and vegetable oil is that vegetable oil will biodegrade. When this occurs, the smell is produced.
When possible, the maintenance crew can clean the small leaks and the smell goes away. They do this by pumping off the rest of the oil and adding fresh and also by adding an environmental fungicide, Simply Green, and deodorant. For bigger leaks, Bay State Elevator is called in to remove excess oil.
Archer thinks that the reason for this elevator having the smell and others not having it is that the Vail elevator has a seal that leaks more. Archer assures that the seal is functional, however, because if it were not the elevator would not work.
“We spend a lot of money on these elevators,” says Archer about the smell and the inspection sticker. He also thanks LSC students for their concerns and questions and encourages students to be aware of these things.
Special to the Critic
Students may have noticed the sticker in the Vail elevator had expired and that it smelled of sea salt; but there is a good explanation for each.
“Everything’s up to date,” says Tom Archer, director of physical plant at LSC, “and they always were.” The elevator, Archer explains, is inspected two to three times annually by Vermont Inspection Services and the college has a maintenance agreement with Bay State Elevator to provided necessary maintenance every three months or so.
“It was a paperwork glitch,” says Archer. The reason for the expired sticker is a paperwork issue, not a safety issue according to Archer. Students will notice that the elevator now displays a faxed copy of the updated sticker and will continue to do so until the physical copy is received.
However, that does not explain the awkward smell on the first floor.
That smell is the byproduct of LSC’s efforts to be environmentally friendly. Archer explains that instead of the elevators using hydraulic oil, it uses vegetable oil.
According to Archer, most piston-powered hydraulic systems leak a bit due to the downward thrust of the piston into the oil. However, the difference between hydraulic oil and vegetable oil is that vegetable oil will biodegrade. When this occurs, the smell is produced.
When possible, the maintenance crew can clean the small leaks and the smell goes away. They do this by pumping off the rest of the oil and adding fresh and also by adding an environmental fungicide, Simply Green, and deodorant. For bigger leaks, Bay State Elevator is called in to remove excess oil.
Archer thinks that the reason for this elevator having the smell and others not having it is that the Vail elevator has a seal that leaks more. Archer assures that the seal is functional, however, because if it were not the elevator would not work.
“We spend a lot of money on these elevators,” says Archer about the smell and the inspection sticker. He also thanks LSC students for their concerns and questions and encourages students to be aware of these things.
Who owns these walls?
Catherine Story
Managing editor
Lyndon is not my school.
The halls are plain or decorated with manufactured admissions propaganda and the events are generic and unimaginative. This campus has never looked like a student friendly or student run community.
The question I ask is: who really owns this school?
The reason I am dwelling on the ownership of this school is the recent expunging of student art in the hallways.
I realize the “danger” of having students feel that they can paint on any wall on campus without repercussions. There are always people who do things through hatred and angst and the school does not want those views to be a community representation.
There is however the question of who makes the decision of what can and cannot be put on the walls. Whose opinions does this school represent?
The faculty and administration of this college are put in place and paid to help students develop into freethinking and intelligent adults.
It’s upsetting for me to hear staff ask, “what gives students the right,” when discussing the painting project of the experiencing the arts class. My question is what gives the administration the right to demand that students get permission?
There is a web of paperwork that students need to fill out to do anything around campus that usually slips into the student services department and is never seen again. It is only through the SGA that students are granted money to create new activities and clubs and that SGA is made up of bitter club representatives who would generally prefer to be elsewhere.
The dilemma that is posed to me is the assertion that the administration has taken to wipe out the student artwork when they claim that the campus is too broke to pay for independent studies or up to date technology. Why are the man-hours and paint supplies so readily available to wipe out creative thought but not available to help students learn?
The administration may claim to embrace the creative and artistic students within the college but it seems quite the opposite when you hash through their actions. There is a new music room in the lower level of Vail that students are supposed to be able to practice in. Unfortunately because of the location, right below the administration offices, they are not allowed to practice before 4:30 p.m.
The students on this campus are treated like visitors. They are not allowed to leave a mark or make too much inconvenient noise. It’s the mentality of an administration and faculty that refuses to embrace their student’s creativity and expression without specific guidelines and restrictions that causes student’s lack of involvement as well as the low retention rates.
I doubt the school realizes the message they are sending their new students when they cover up paintings because of a little bit of mess. If the campus is having trouble with freshmen retention it’s probably not a good idea to erase freshman artwork from the halls.
Perhaps Elizabeth Norris, Department Chair of Music and Performing Arts, misunderstood, President, Carol Moore when she said, “I picture artwork on every single wall,” in her state of the college address. It seems she meant a picture that the admissions department purchases or perhaps she wants more big screen TVs displaying Power Points.
Managing editor
Lyndon is not my school.
The halls are plain or decorated with manufactured admissions propaganda and the events are generic and unimaginative. This campus has never looked like a student friendly or student run community.
The question I ask is: who really owns this school?
The reason I am dwelling on the ownership of this school is the recent expunging of student art in the hallways.
I realize the “danger” of having students feel that they can paint on any wall on campus without repercussions. There are always people who do things through hatred and angst and the school does not want those views to be a community representation.
There is however the question of who makes the decision of what can and cannot be put on the walls. Whose opinions does this school represent?
The faculty and administration of this college are put in place and paid to help students develop into freethinking and intelligent adults.
It’s upsetting for me to hear staff ask, “what gives students the right,” when discussing the painting project of the experiencing the arts class. My question is what gives the administration the right to demand that students get permission?
There is a web of paperwork that students need to fill out to do anything around campus that usually slips into the student services department and is never seen again. It is only through the SGA that students are granted money to create new activities and clubs and that SGA is made up of bitter club representatives who would generally prefer to be elsewhere.
The dilemma that is posed to me is the assertion that the administration has taken to wipe out the student artwork when they claim that the campus is too broke to pay for independent studies or up to date technology. Why are the man-hours and paint supplies so readily available to wipe out creative thought but not available to help students learn?
The administration may claim to embrace the creative and artistic students within the college but it seems quite the opposite when you hash through their actions. There is a new music room in the lower level of Vail that students are supposed to be able to practice in. Unfortunately because of the location, right below the administration offices, they are not allowed to practice before 4:30 p.m.
The students on this campus are treated like visitors. They are not allowed to leave a mark or make too much inconvenient noise. It’s the mentality of an administration and faculty that refuses to embrace their student’s creativity and expression without specific guidelines and restrictions that causes student’s lack of involvement as well as the low retention rates.
I doubt the school realizes the message they are sending their new students when they cover up paintings because of a little bit of mess. If the campus is having trouble with freshmen retention it’s probably not a good idea to erase freshman artwork from the halls.
Perhaps Elizabeth Norris, Department Chair of Music and Performing Arts, misunderstood, President, Carol Moore when she said, “I picture artwork on every single wall,” in her state of the college address. It seems she meant a picture that the admissions department purchases or perhaps she wants more big screen TVs displaying Power Points.
SGA Rundown-End of the Semester
Ben Holbrook
Critic Editor
WWLR nearly losing their voting rights and having their budget frozen wasn’t the only issue dealt with during Wednesday night’s meeting.
Tom Archer was invited to speak during the meeting, which gave club representatives the chance to ask questions and pose problems around campus. Some of the issues discussed were the Stonehenge parking lots, replacing windows in the residence halls and continuing to update the Stonehenge residence halls. Archer said that the parking lots in Stonehenge are a problem that the school is trying to address however, since the school’s budget is so tight right now, the parking lots probably won’t be worked on until the summer.
J.C. Norling, the new adventure based recreation professor, gave a presentation about a new website the Outing club is working on. The new website is part of an effort to inform students about all the recreational opportunities available to them. Norling’s presentation also included a proposal to renovate the squash courts into a student activity center which would include a new climbing wall.
The key issue dealt with during the meeting was whether SGA should take action against WWLR for failing to submit registration paperwork by the Nov. 21 noon deadline.
Despite repeated warnings from the executive board, WWLR failed to submit their paperwork. Under the SGA constitution it states,” If a Club Representative fails to maintain a current registration with the Office of Campus Activities, then the SGA Executive Board shall make a recommendation(s) for action to the SGA. This must be passed by two-thirds (2/3) majority in order to take effect.”
After a great deal of discussion three motions were voted on, all of which failed. As a result, WWLR who would have been stripped of voting rights and had their budget frozen until the paper work was submitted and approved, will not face any repercussions.
AWRT and Sigma Zeta made money requests. AWRT requested money to drive to Connecticut to go on a tour at ESPN and possible tour of the NBC 30 station. The club was denied $319.80 to stay overnight at a hotel but they were approved for the money to pay for the mileage. Sigma Zeta and AMS/NWA made a request to pay for expenses for the science fair they host in March. Both clubs were requesting $750 to pay for food which, was reduced to $615.
Ryanne Ayers was approved to receive $250 to help pay for travel expenses to a 28th Annual conference on First-Year experience. Ayers received a fellowship, which only five students in the country are awarded, to help pay for the conference costs.
The meeting concluded with the disbanding of two clubs and the removal of Katie Story, Kathy Klein, Steven Cormier and Kali Stoddar-Imari from their elected representative positions.
Critic Editor
WWLR nearly losing their voting rights and having their budget frozen wasn’t the only issue dealt with during Wednesday night’s meeting.
Tom Archer was invited to speak during the meeting, which gave club representatives the chance to ask questions and pose problems around campus. Some of the issues discussed were the Stonehenge parking lots, replacing windows in the residence halls and continuing to update the Stonehenge residence halls. Archer said that the parking lots in Stonehenge are a problem that the school is trying to address however, since the school’s budget is so tight right now, the parking lots probably won’t be worked on until the summer.
J.C. Norling, the new adventure based recreation professor, gave a presentation about a new website the Outing club is working on. The new website is part of an effort to inform students about all the recreational opportunities available to them. Norling’s presentation also included a proposal to renovate the squash courts into a student activity center which would include a new climbing wall.
The key issue dealt with during the meeting was whether SGA should take action against WWLR for failing to submit registration paperwork by the Nov. 21 noon deadline.
Despite repeated warnings from the executive board, WWLR failed to submit their paperwork. Under the SGA constitution it states,” If a Club Representative fails to maintain a current registration with the Office of Campus Activities, then the SGA Executive Board shall make a recommendation(s) for action to the SGA. This must be passed by two-thirds (2/3) majority in order to take effect.”
After a great deal of discussion three motions were voted on, all of which failed. As a result, WWLR who would have been stripped of voting rights and had their budget frozen until the paper work was submitted and approved, will not face any repercussions.
AWRT and Sigma Zeta made money requests. AWRT requested money to drive to Connecticut to go on a tour at ESPN and possible tour of the NBC 30 station. The club was denied $319.80 to stay overnight at a hotel but they were approved for the money to pay for the mileage. Sigma Zeta and AMS/NWA made a request to pay for expenses for the science fair they host in March. Both clubs were requesting $750 to pay for food which, was reduced to $615.
Ryanne Ayers was approved to receive $250 to help pay for travel expenses to a 28th Annual conference on First-Year experience. Ayers received a fellowship, which only five students in the country are awarded, to help pay for the conference costs.
The meeting concluded with the disbanding of two clubs and the removal of Katie Story, Kathy Klein, Steven Cormier and Kali Stoddar-Imari from their elected representative positions.
Money classes emulate financial world
David Lapham
Critic Staff
Rachel Siegel’s Money and Capital Markets class students have a rare opportunity to watch financial history as it unfolds.
“The class couldn't have been timed better, given the fact that there is so much excitement in the markets,” Sam Utz, junior business major said. “Being able to study the material real time and watch it as it happens is a luxury we are fortunate to have.”
Joel Flores, junior Business Management majors believes, “The class has benefited in an educational standpoint, the topics we have covered we get to see in real life,” Flores said. “How about instead of the professor giving a lecture, you are the one giving the lecture? This is the case in Money and Capital Market; you do a presentation each week on a specific topic shown by professor Siegel.”
A major concern for many students in the Money and Capital Markets class is the credit crisis. According to some of the class members the credit crisis has been caused by careless mortgage lending and is the root of numerous bank failures. In the midst of financial decay students are able to watch the markets fluctuate each day.
The class “gives a lot of perspectives on the economy,” Nate Taylor, senior business administration major, said. “It’s great to be informed through a class on everything that’s currently happening and taking that information as a group and trying to figure it all out.”
The United States financial mess cannot be pinpointed to a single factor; however, one factor in particular, the burst of the housing bubble, has been criticized as being a leading cause.
“So when the housing bubble burst people couldn’t sell their houses for anywhere near the price they bought them for, or owed on the house,” Taylor said.
People became trapped trying to pay for houses they could not afford; as a result people eventually defaulted on their loans. “The bank now has lent someone 500k to buy a house and since the housing bubble has burst that house may only be worth 200k,” Taylor said.
Joel Flores has experienced firsthand how banks have lent irresponsibly. “In 2004-2006 I worked for Washington Mutual. When you apply for a mortgage if you had higher than a 680 credit score [good credit] the bank would not verify your income. By not verifying your income they wouldn’t know if a customer had a means to pay back their mortgages,” Flores said.
Watching the financial world collapse before the class has caused some students to theorize what might happen to the future of banking systems, Sam Utz, junior business major contends that, "The balance of power is changing because banks have less capital, and other companies, such as Tesco, are considering entering the mortgage market to take advantage of the situation and use their capital."
Critic Staff
Rachel Siegel’s Money and Capital Markets class students have a rare opportunity to watch financial history as it unfolds.
“The class couldn't have been timed better, given the fact that there is so much excitement in the markets,” Sam Utz, junior business major said. “Being able to study the material real time and watch it as it happens is a luxury we are fortunate to have.”
Joel Flores, junior Business Management majors believes, “The class has benefited in an educational standpoint, the topics we have covered we get to see in real life,” Flores said. “How about instead of the professor giving a lecture, you are the one giving the lecture? This is the case in Money and Capital Market; you do a presentation each week on a specific topic shown by professor Siegel.”
A major concern for many students in the Money and Capital Markets class is the credit crisis. According to some of the class members the credit crisis has been caused by careless mortgage lending and is the root of numerous bank failures. In the midst of financial decay students are able to watch the markets fluctuate each day.
The class “gives a lot of perspectives on the economy,” Nate Taylor, senior business administration major, said. “It’s great to be informed through a class on everything that’s currently happening and taking that information as a group and trying to figure it all out.”
The United States financial mess cannot be pinpointed to a single factor; however, one factor in particular, the burst of the housing bubble, has been criticized as being a leading cause.
“So when the housing bubble burst people couldn’t sell their houses for anywhere near the price they bought them for, or owed on the house,” Taylor said.
People became trapped trying to pay for houses they could not afford; as a result people eventually defaulted on their loans. “The bank now has lent someone 500k to buy a house and since the housing bubble has burst that house may only be worth 200k,” Taylor said.
Joel Flores has experienced firsthand how banks have lent irresponsibly. “In 2004-2006 I worked for Washington Mutual. When you apply for a mortgage if you had higher than a 680 credit score [good credit] the bank would not verify your income. By not verifying your income they wouldn’t know if a customer had a means to pay back their mortgages,” Flores said.
Watching the financial world collapse before the class has caused some students to theorize what might happen to the future of banking systems, Sam Utz, junior business major contends that, "The balance of power is changing because banks have less capital, and other companies, such as Tesco, are considering entering the mortgage market to take advantage of the situation and use their capital."
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