Zombie Negotiations
Posted: May 4, 2009 Filed under: Bailout Blues, Equity Markets, Global Financial Crisis, U.S. Economy | Tags: bank failures, Bank Stress Tests, zombie banks 3 CommentsI’m at the end of my semester which is the time when students that should’ve showed up in my office months ago suddenly feel they can negotiate a different result than the one listed in my syllabus and on my grade sheet. I’ve noticed this pattern in all my years of teaching. I get about a handful of them right after the first test that say, sheesh, I don’t think I get this what can I do? I get more than a handful the week before finals, when their grades are pretty much a given, saying, sheesh, I don’t think I can get this, what can you do for me?
There’s an implicit contract between me and my students and a good deal of it is stated in the syllabus which all of them get at the beginning of the semester. Over the years, it’s grown to being a pamphlet of sorts. Much of this has to do with either accreditation or legal requirements (like what to do if you’re disabled and need help with things). A lot of it is me trying to be absolutely, positively clear that we agree on the expectations we have in this class. I spend the entire first day going over all of these things and they all nod in agreement, don’t ask many questions, and hope they can leave early.
Why do I feel like the Fed is waving a syllabus in front of a few recalcitrant banks over the results of the so-called stress test? Are they asking why didn’t you come to us sooner when you had a problem? How much of a softie is the Fed going to be when a few of them want to renegotiate what it means to get an A,B,C, D, or F?





Recent Comments