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VIDEO ESSAY: The Faces of the Financial Crisis
The U.S. financial system faces a grave crisis as investment giants teeter on the edge of collapse. These institutions aren't merely made of paper and percentages, though. They're led by people - people who've made some rotten decisions in recent years. Whereas we'll hear much in the coming weeks about the federal regulators who are scrambling to avert a disaster, we should also hear about the CEOs who got very rich while their firms crumbled.
Keywords: Economy, Government, Bear Stearns, CEO, Corporate Greed, corruption, Economy, Financial Crisis, James Cayne, John Thain, Lehman Brothers, Merrill Lynch, Richard Fuld, Stan O'Neal, Stock Market, Wall Street
The American News Project is dedicated to defending and promoting the public interest through high-quality, investigative video journalism.
Financial forecasting helps
Financial forecasting helps a lot and should be managing well to face business risks. While more people are trying to reduce their spending and save money, it seems the executive class that helped create the current recession that so many of us are suffering from are trying to be rewarded for their indiscretion. The Wall Street Journal reported in a recent article that Merrill Lynch CEO John Thain is looking for a $10 million bonus payment.
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As activists peacefully
As activists peacefully toyi-toyi'd from the people living with HIV gathering room, security guards began to amass. By the time protesters had walked downed the stairs, they were surrounded by a human chain of guards by Accounting Degree. As activists sang protest songs and held posters stating 'Bail out health care', and 'No more ARV waiting lists', security guards began to push activists outside. One of the security leaders instructed Victor Lakay, TAC's head of Community Health Advocacy and one of the members of the conference's organising committee to Marketing Degree, to disperse the protest or face expulsion from the conference hall immediately. Activists had their badges snatched from around their necks as the protest continued.
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down the ladder
The economy must move on despite the financial crisis in which making it weak and sick. Some businessmen love to face higher risks amidst the economic crisis. What could be the right investment in the coming year? Financial forecasting helps a lot and should be managing well to face business risks. While more people are trying to reduce their spending and save money, it seems the executive class that helped create the current recession that so many of us are suffering from are trying to be rewarded for their indiscretion. The Wall Street Journal reported in a recent article that Merrill Lynch CEO John Thain is looking for a $10 million bonus payment. The sad part is, this took place after the company he was hired to run had almost completely ran out of cash and was facing bankruptcy. It was in such a desperate situation that he was forced to sell the company to Bank of America to keep the corporation alive. “Nothing less than shocking” is what the New York State Attorney General Andrew Cuomo called the situation. The average person, like you and me, would never be rewarded for such a failure. In fact, most people would get fired for far less. Those at the highest position should be given the same treatment as those of us down the ladder. Click to read more on Payday Loans.
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