Causes And Solutions

Stephen Platt

Chapter 11 in Criminal Capital, 2015, pp 188-206 from Palgrave Macmillan

Abstract: Abstract A new chapter in social and economic history was opened on 15 September 2008 when Lehman Brothers Holding Inc. collapsed under debts of $613 billion in the US’s largest ever bankruptcy. Ripples swelled to waves and one by one the major names in international finance became engulfed by the threat of total ruin. Governments across the globe pumped trillions into the global financial system to calm the waters and halt contagion. Six years after the crisis started and the dominos are still falling: job seekers, evicted homeowners, and users of public health and education systems worldwide continue to experience the daily effects of cuts and austerity. As the spotlight has remained on the industry other harmful and abusive practices have been revealed, with new scandals emerging with monotonous regularity. Despite this, the discourse around preventing a repeat of the events of 2008 appears to be sliding down the agenda, especially with recent figures indicating that economies are in recovery and the World Bank proposing that the global economy had reached a ‘turning point’ in 2014.

Keywords: Financial Institution; Executive Director; Money Laundering; Finance Industry; Board Director (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33730-6_11

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137337306

DOI: 10.1057/9781137337306_11

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().