President of Medgar Evers College of the City University of New York, Dr. Rudolph Crew says the institution aspires to become the citadel of financial literacy where experts can crunch financial numbers in understandable ways to ordinary citizens.
In this college, Crew stated, we shall create “mental wealth in a community that already has social wealth” through sound financial education based on demystifying the financial system.
Dr. Crew was speaking at the unveiling ceremony of the financial simulation lab and wealth-building education for the Brooklyn community attended by financial industry leaders and Wall Street executives.
Pointing with a clenched fist to the lab, an elated Crew crowed; “this is a snapshot of Wall Street …that replicates financial transactions in Wall Street…in this college people will learn that the genius behind our financial system as it relates to people of color sits on every home and signals that our young people and families are just as important to the financial world as everyone else.”
President Crew, flanked by students, faculty, and corporate sponsors, his leadership team and elected officials emphasized that the financial simulation lab provides a unique opportunity for students to replicate their own day-to-day business curriculum, in their interactions with professors, and the business world in the US and around the world.
He suggested that the screens and tickers with streaming information on global markets including currencies, debt instruments, and equity markets should extend outside the building as a deliberate step to make it visible to passersby’s on Bedford Avenue for purposes of financial education to the community.
The President’s request fell on the listening ear of a special guest, Brooklyn Borough President, Eric L. Adams, who immediately accepted to fund the cost of
extending the tickers where they will be more visible to people passing through the major road in the College.
Adams, while emphasizing the need for more financial literacy in the community and access to the world market, used the opportunity to praise President Crew’s visionary leadership. He described Crew as an intellectual giant who is a great achiever, promising that his doors are ever open to support the President’s visionary agenda for Medgar Evers College.
The Borough President maintained that the financial simulation lab had the potential to start a process of rewiring the brains of young people in the community to reduce the ignorance around the financial world.
The Provost of the College, Dr. Augustine Okereke, spoke on the connection between financial education and social justice as part of the mission of the College. He stated that the launch of the financial simulation lab was one of many connections the College was building with students, the Brooklyn community, and the financial community.Dr. Okereke used the occasion to thank our corporate partners who attended the event and who agreed to host some Medgar students for internships.
With 28 computers and five giant smart television screens, the financial simulation lab will provide students with the opportunity to learn in a state-of-the-art environment.
Above all, the lab will help students develop the skills needed for careers in finance while also positioning the College to be on the cutting edge of contemporary practices in finance and business education. In the words of Dr. Egbe, “the lab guarantees that Medgar Evers graduates can compete with other graduates of other institutions in the labor market.”
The highlight of the event was the cutting of the ribbon to open the lab by President Crew and Borough President Eric Adams.
Wall street Bound CEO Troy Price and MEC Career services executive Director Dr. Antoinette Roberson co-hosted and helped to coordinate an impressive list of partners. Among the partners are the Securities Trading Corporation (STC), StockTrak, New York Life, Carver Federal Savings Bank, Securities and Exchange Commission (SEC), Hindsight Financials, Code Foundation, Signature Resolutions Company, SMB Capital, TruePlatform.com, TIAA, Royal Bank of Canada, IHS Markit, Five Prime Advisors, Morgan Stanley, and Mizuho Securities USA.
One of the partners, StockTrak, offers virtual trading platforms to college and high school students around the world. These platforms are the most realistic simulations available. Students benefit from its real-time, streaming platforms that feature global equities, bonds, options, futures, commodities and more.