Financial Crisis Experience Shared
Recently, we had the pleasure of having former Credit Suisse Director, Mr Martijn De Bruin visit to give a talk about his experiences working in the financial sector during the financial crisis of 2007 – 2009. From the talk, we understood how consumer psychology and loose credit regulations led to the event occurring, and how shocking it was for the entire world at the time; stock markets plummeted, people were desperate to get rid of their securities as they were devaluing, and the collapse of many well-known investment funds. We also learnt a lot on the financial sector; one would be an MBS, which is when a bank acts as an intermediary between a bank and an investor, in order to sell a loan at a discounted price to the investors in the form of a MBS. It also enhanced our knowledge on our current economic course, such as the consequences of an asset bubble burst. Overall, it was a very enriching experience, and we appreciated it a lot.
Vincent Ku – Lower Sixth Form.
