Essay 2: Causes of the Financial Crisis
Student submission. Oral exam complete.
Understanding
Do they grasp the material?
Strong
Explained the work in their own words.
Authorship
Could the student have written this?
Clear
Nothing here needs your attention.
Evidence, Understanding
Thesis Understanding
DemonstratedRestated the paper's central claim without reaching for its wording.
Evidence Knowledge
PartialNamed both sources, but could not say why one carried more of the argument.
Depth of Understanding
DemonstratedFollowed the argument into a case the paper never mentions.
Evidence, Authorship
Process Awareness
DemonstratedDescribed an earlier version of the thesis and why it was cut.
Evidence Knowledge
PartialNamed both sources, but could not say why one carried more of the argument.
Transcript excerpt
Examiner
You argue that securitization moved the risk rather than removing it. Walk me through how that worked.
Student
Banks bundled the mortgages and sold slices of them on, so a default no longer sat with the lender who wrote the loan. The risk did not disappear, it moved to whoever held the slice, and nobody could see how much of it they were holding.
Examiner
Your paper leans on one ratings agency figure. Why that one?
Student
It was the only one that broke the downgrades out by year, which is what the argument needed. I should have checked it against a second source, and I did not.