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Edinboro University professor to present timely lecture on the current financial crisis

02/24/2012

Edinboro University Professor Samuel Claster will present a multi-media lecture February 29 on “Finance, Foreclosure and the ‘Big Fix’: A Critical Framework for Understanding the Current Crisis.”

Dr. Claster, an Assistant Professor of Sociology, said the goal of the Wednesday evening lecture presentation “is to familiar students with the institutional processes and events that created the mortgage crisis in the U.S., a crisis that ultimately culminated in a credit crisis of the entire economic system in the fall of 2008, the subsequent fraudulent home foreclosures and the Obama Administration’s proposed economic and judicial solutions to these issues.”

The lecture will discuss crisis tendencies inherent in modern capitalist societies and will feature a combination of lecture, short videos and public data that will help his audience understand the terminology and phenomena associated with the crisis including “credit default swaps”, “robosigning”, “MERS” and “TARP”. The presentation will conclude with an update on the recent settlement between the United States government and five major banking institutions, as well as the recent lawsuits brought against multiple banks and lender services corporations by multiple state attorneys general.

“As this is an informative presentation, the goal is to stimulate discussion among attending students,” Claster said.

The lecture begins Wednesday, February 29, at 6 p.m. in Room 107 of the R. Benjamin Wiley Arts and Science Center.

While directed toward Edinboro students, this event is open to the public and admission is free. The lecture is sponsored by Edinboro University’s Sociology and Philosophy Clubs.