Wall Street Hasn't Learned the Lessons of 2008, Angelides Says

Wall Street Hasn't Learned the Lessons of 2008, Angelides Says

Assessment

Interactive Video

Business, Social Studies

University

Hard

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The transcript discusses the 2008 financial crisis, highlighting its avoidable nature due to reckless risk-taking and regulatory neglect. It examines changes in the banking system, noting increased safety but new risks from shadow banks. Concerns are raised about Wall Street's lack of accountability, as fines were paid by shareholders, not executives. The need for strong regulation and oversight is emphasized, especially with political challenges threatening reforms. The speaker advocates for more Democratic oversight to ensure financial stability and prevent future crises.

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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was identified as a key factor that led to the 2008 financial crisis?

Increased government spending

Technological advancements

High inflation rates

Reckless risk-taking and regulatory neglect

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How has the banking system changed since the 2008 crisis?

The system is considered safer with stronger capital requirements

There are fewer players in the financial market

Banks have reduced their capital requirements

Banks have increased their risk-taking activities

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was a major concern regarding Wall Street's response to the crisis?

Wall Street faced severe economic consequences

Wall Street reduced its influence in the financial market

Wall Street quickly returned to profitability without learning from the crisis

Wall Street executives were held accountable

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who was suggested to be more thoroughly investigated for their role in the financial crisis?

Chuck Prince and Robert Rubin

The general public

Small business owners

Technology companies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was a significant issue with the fines imposed on banks after the crisis?

They were used to fund Wall Street bonuses

They were never collected

They were paid by shareholders, not executives

They were too small to impact the banks

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is emphasized as necessary to prevent future financial crises?

Eliminating all financial regulations

Strong regulation and oversight

Encouraging risk-taking on Wall Street

Reducing government oversight

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should be the focus of risk-taking according to the final section?

On Wall Street backed by taxpayer dollars

In the real economy

In foreign markets

In technological innovations