Current Economic Situation
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Assistance needed writing a brief profile on each of the following individuals....and include their contribution to the current economic situation (positive/negative/neutral?) providing a personal opinion per the information learned.
Some of our citizenry believes that the recession is "man-made" because greedy "wall-street" people (and corporate bosses) tried to make money by peddling risky investments...coupled with a selfish accumulation of personal wealth without regard for the potential negative economic impact.
It was report that 18.4 billion dollars ($18,400,000,000) in bonuses was paid out to "wall street" people. Ironically, the pay-out money was siphoned from the bailout money (provided by the U.S. tax-payers). Some feel that this action amounts to "Financial Treason" at a time when many of our companies are on the verge of extinction.
Assignment - Part 1 - Write a brief profile on each of the following individuals....and include their contribution to the current economic situation (positive/negative/neutral?):
1. Richard Fuld, former CEO, Leman Brothers
2. Allan Greenspan, former Federal Reserve Chairman
3. Robert Rubin, former CitiGroup Chairman
4. Angelo Mazilo, former Country wide CEO
5. Jimmy Cayne, former Bear Stern CEO
6. John Thain, Merrill Lynch CEO
Assignment - Part 2 - Write an opinion based on the information provided and your completion of Assignment Part 1.
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Solution Summary
This posting gives you a step-by-step explanation of the current economic situation and men who caused the situation. The response also contains the sources used.
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In accordance with BrainMass standards, this is not a hand in ready assignment but is only background help.
Step 1
Richard Fuld was the Chief Executive Officer of Lehman Brothers between 1994 and 2008. In 2008, Lehman Brothers filed for bankruptcy protection. His role has been important in the bankruptcy of Lehman Bros is one of the factors that has contributed to the current economic weakness in the country.
Step 2
Allan Greenspan, was the Chairman of the Federal Reserve between 1987 and 2006. It was during his tenure at the Fed that easy money policies were introduced that led to subprime mortgage crisis. He is ...
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