AFTER THE FALL - FINANCIERS IMMORAL LIVES AND CRIMES - 2008 CRASH The financial crash of September 2008 brought the largest bankruptcies in world history, pushing over 30 million people into unemployment and bringing many countries to the brink of insolvency. And the search for the causes of the meltdown led to some evidence of fraud and corruption. In London, for example, there were claims of widespread immoral and even criminal behavior in the citys financial world. And in the US, the Goldman Sachs Group was charged with fraud by the US Securities and Exchange Commission over its marketing of a subprime mortgage product. And in the UAEs Dubai, the crash was like a game of musical chairs coming to an end. Sheikh Mohammed Bin Rashid al Maktoum calls himself Dubais CEO. He claims to run his government according to strict business principles, but after the crash many were quietly questioning his judgement and his leadership. In the years before the meltdown, Dubai had the biggest real-estate bonanza in the world. During the crash, the market tumbled, losing 50 percent of its value, leaving Dubai virtually insolvent. But this did not deter the sheikh. To watch episode 4: youtube/watch?v=os5EbeWFvto
Posted on: Mon, 17 Feb 2014 06:30:03 +0000
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