BEAR STEARNS, 2008

BACKGROUND GUIDE

Topic Summary

Bear Stearns has been one of the most prestigious banks with one of the most impressive reputations in the financial industry. However, after years and years of subprime loan distributions, the housing market has finally collapsed and the American economy with it. As the board members of one of the companies hit hardest by the collapse of the housing bubble, you will work together to try to save the company from economic collapse.

Lucien Wang

Dear Delegates,

Welcome to the Board of Directors at the venerable Bear Stearns! Be prepared for an exciting and fast-paced committee filled with corporate intrigue, underhanded deals and world-changing events.

My name is Lucien Wang and I’m a senior in the Wharton School studying Finance, Statistics and OIDD, with a minor in Mathematics. I spent my high school years in Hong Kong, although I was born in London, and have also spent 6 years living in Singapore.

I’ve been involved in the IAA mostly through staffing in the past conferences, and hope to make your experience here at ILMUNC as enjoyable as possible! I spend most of other time at Penn as Print Director of the Daily Pennsylvanian, where I oversee the print publication of our student newspaper.

The chaotic financial climate between 2007-08 will be our setting: a period of fierce, intense corporate interests and composed of shrewd, calculating individuals. The financial crisis was a pivotal moment in the U.S., and ultimately world economy, laying the groundwork for many of the financial regulations that we see today. From the Dodd-Frank Act to the Basel Accords, the repercussions and consequences of the crisis, and indeed this committee, will resonate for decades to come. Will you choose to serve your own interests or the firm’s? Will you be a pawn in someone else’s game, or choose to forge your own legacy? These are the crucial questions you will be answering in your time with us.

Due to the highly technical nature of this committee, we strongly recommend reading the background guide and taking the time to do independent research. For those who enjoy this topic area though, we promise you sessions filled with debates and machinations from each of the factions both within and outside of the firm.

I am super excited to be your Crisis Director this year, and look forward to seeing you all soon! Please feel free to reach out to any of us on the crisis team!

Best of luck,

Lucien Wang

Crisis Director, United Nations Security Council
The 34th Ivy League Model United Nations Conference

 

Wendy Lee

Dear Delegates,

Welcome to the Bear Stearns Board of Directors at ILMUNC 34! My name is Wendy Lee and I cannot wait to be your chair for this committee. The Secretariat and Staff have been working hard to make this conference the best yet. I truly hope that ILMUNC is one of the best weekends of your spring semester.

Let me first introduce myself: I am from Auckland, New Zealand, a beautiful country that is known for its hobbits and sheep. I participated in Model United Nations throughout high school and have also competed in the college circuit on behalf of Penn. Outside of Model UN, I also consult for non-governmental organizations with the Penn International Impact Consulting group, alongside dabbling in student life through Wharton Council. In my spare time, I love to travel, hike, go to concerts and find delicious cheap eats in every city I visit!

I cannot wait for this stimulating and fun committee. As we know, the 2008 Recession is of global and historic importance, and I am excited to see your creativity and intelligence shine through. Lucien is deeply passionate and knowledgeable on this topic and we will try our very best to create the best delegate experience for this committee.

It is crucial that you all read the background guide, as it provides important context to the history and economics behind this committee. I also highly recommend you to ponder over your character powers. From personal experience, a great committee is created by prepared delegates, and I am sure that you will contribute to this. If you have any questions or concerns, please feel free to reach out to me, Lucien or your USG, Veer. See you all soon!

Sincerely,

Wendy Lee

Chair, Bear Stearns
The 34th Ivy League Model United Nations Conference