The Center's second annual Regulatory Outreach for Student Education (ROSE) was designed to help students better appreciate the subtleties of the ongoing debate among professionals in the U.S. financial industry and policy makers at the federal regulatory agencies.
During the Spring 2014 term, four teams of top economics and finance undergraduates met with representatives from the Federal Reserve and industry trade groups in New York and federal agencies in Washington, DC. The teams spent considerable time prior to the meetings researching and understanding the most pressing issues affecting regulatory reform, and preparing insightful questions for their hosts.
In anticipation of the DC meetings, each team prepared a paper designed as a mini-amicus brief, summarizing positions and offering a perspective based on each industry's agenda. In their papers, the students explained their views, either pro or con, based on what they learned. These papers were reviewed by a professional panel, who in turn shared the final papers with the industry/agency presenters.
These students are among the best and the brightest of the 2014 and 2015 graduates. Many will be taking positions at financial institutions, so the messages they received during their visit will help shape their views for their entire careers. And, as with any teaching experience, those at the lectern often learn as much or even more from the students' questions.
"The whole process from writing the paper, preparing the presentation, to actually visiting the SEC and the FED was a great learning experience and I truly enjoyed it. It was a once in a lifetime opportunity and I am grateful to have been able to participate in it."
"It was truly a wonderful experience to be able to discuss such a hot-button topic with higher ups at the regulatory agencies who deal with these issues every day. In writing the letter and working with my team, I gained a better appreciation and understanding of what it takes to makes decisions on whether or not to regulate financial entities. It was also great to be able to use what I learned in my economics classes at Fordham and translate it into the real world economic policies. I thank you again for giving me the chance to enrich my college experience."
"Thank you very much for giving us the opportunity to go through the experience of writing a comment letter and then actually getting to present it. It was very exciting to be able to present in front of people that actually have decision making power; and to be able to do it in Washington, DC made it that much better."
"[The ROSE] program connects the dots between theory and practice; as an undergraduate, it was my first chance to test my economic knowledge and leadership abilities in the real world. I'm incredibly grateful."
"I had an a great time talking to the regulators and gaining their perspectives on the prevailing economic issues of our time. It was particularly helpful to hear about the behind-the-scenes of Washington and how the various parts of our government interact. . . . The opportunity to comment on a consultative document of such magnitude and consequence was amazing and it gave us a chance to apply our education to the practical world. I also had a great time working with my fellow Gabelli students in formulating the response. This was a once in a lifetime opportunity for which I am truly grateful."
"I will never forget experiences I had as a participant in the 2014 Washington DC Economic Forum, nor will I forget the ones I had during the Business Visit to Washington, DC that you sponsored last year. I am confident that the most meaningful opportunities and experiences I have had at Fordham would have been impossible without you. I know the exceptional opportunities you have made available to me will continue to influence me throughout my career."
"This has truly been a unique and enlightening experience and I hope to delve deeper into financial policy in the future."
"Over the past couple months I have learned so much and the trip to Washington was everything I hoped it would be. Being able to share our work with actual people in the industry and then hearing them comment on it really meant a lot. I look forward to using what I have learned as I get ready to begin my career."
"The Washington, DC Economic forum gave me professional skills that even the best colleges can't: extended teamwork, professional-level presentation, and real-world problem solving. I left D.C. with a new interest in contemporary financial problems as well as genuine confidence in my own analytic abilities. I also, I believe, left with at least a couple lifelong friends (and perhaps future business partners)."