"Protecting Your Financial Security in an Unstable World": An Undergraduate Workshop
January 29, 2011
The recent financial crisis, the worst since the Great Depression, caused people's wealth to decrease by trillions of dollars, created the highest level of unemployment in years, and prompted the passage of sweeping financial legislation. The crisis also highlighted the necessity for each of us to understand our personal finances and to make smart decisions. This Friday night workshop, organized by Extracurricular Programs Committee member Andrew Merki, aimed to help students get a better understanding of their personal finances and the consequences of the decisions they are making right now as well as those they will be making in the future. Students were joined by Fred Cate, Distinguished Professor and C. Ben Dutton Professor of Law and director of the IU Center for Applied Cybersecurity Research; Randall Frykberg, Director of Sudent Legal Services; and Walter Koon, Adjunct Professor for Personal Finance in Kelley and former Senior Vice President and Chief Operating Officer for Indiana University Foundation from 1992 to 2002. During Professor Koon's tenure as senior investment officer for the Foundation, the endowment grew from $300 million to more than $1 billion through a combination of successful fundraising and investment returns. Each panelist spoke to their area of expertise and answered questions. Students also played a New York Times you-fix-the-deficit puzzle that forced students to make tough financial choices for the nation. The workshop was co-sponsored by the Wells Scholars Program.