Inside Job Summary Part 1

Iceland 2000 g overnment: deregulation => environment & economy consequences ALCOA exploit congenital ressoures privatized 3 largest banks finance alsok over borrowed 120$ billion dollars KPMG audited banks, cogency is wrong banks dissipated end of 2008, unemployment tripled, regulators did nothing 1/3 of Icelands regulators went to work for the banks => nowadays familiar joint problem NY Gillian Tett (US Managing editor in chief Financial Times) you cant inverted comma me, just now I am genuinely concerned Christine Lagarde (France finance Minister): more people want to go back to the older charge. the representation before the crisis Eliot Spitzer: Former Governer of fresh York: regulators didnt to they job, they had the power, they alone feignt wanted in 2008 collapse of Lehman brothers and AIG triggered global sparing crisis => topic global recession, cost the arena 10s of trillions of dollars 30 one billion million unemployed, doubled subject area debt of US => not an accident, caused by an pop out of cut back industry fortune I: HOW WE GOT THERE 40 old age of government modulate industry, no(prenominal) financial crisis, investments risks only do by hush-hush companies, watched their bullion carefully Regan: financial deregulation Charles Keeting, 1985 hired Greenspan earn to regulators praised business pattern and expertise, no foreseeable risk 40.

000$ => went to prison Greenspan electric chair FED, Regan, Clinton, Bush Clinton: deregulation continued, allowed citigroup too large-mouthed to fail, Glass stegal act Glamm Leach Bliley flake cleared way for next mergers Robert Rubin would later make 126$ as Vice Chairmann of Citigroup Willem Buiter (Chief economist Citigroup): giving banks? like monopoly power, lobbying power, too big will be bailed George Soros (Chairmann Soros gunstock Mgmt): oil tankers big, compartments, prevent sloshing somewhat of oil to capsize boat => deregulation enedend compartments Credit Suisse laundered coin for Iran in infraction with US Sacntions Enron: Citibank, JP Morgan, Merrill...If you want to get a full essay, hallow it on our website: Ordercustompaper.com

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