Case Study on Economics Extra Credit
I’ve attached a link to a documentary below on the “Secret History of Credit Cards.” [It’s also free on the GHC library site, so if the link doesn’t work, you can search it there with our Kanopy search engine (a librarian can help you if you run into trouble)]. This documentary is from 2004 and goes through the harmful behaviors that inspired the creation of the Consumer Financial Protection Bureau. I chose this assignment carefully as it contains information that I believe will benefit all consumers to know, and as they say… “knowledge is power!”
After watching, write an assessment (or reflection) of what you’ve seen. Here are the talking points to include:
- How do these practices impact consumers, businesses (other than banks), and the economy. Give both a short run and long run answer.
- This documentary was made prior to the Great Recession. How do you think these practices contributed to it, if at all?
- Pretend you are the Chair of the Fed. What, if anything, would you do in response to the results you assessed?
- Include some specific references from the documentary!