The financial crisis as tsunami: The wave is spreading



Previous Part



We are moved by the idea to make the world of work more human - without constant pressure for efficiency, stress and fear. As Publisher Best of HR - Berufebilder.de® with podcast, eLearning-on-demand offers and news service we share 15 years of experience with our customers (Samsung, Otto, state institutions). By the Top20 female blogger and consultant Simone Janson, referenced in ARD, ZEIT, Wikipedia .
Copyright: Artwork created by Simone Janson | Best of HR Berufebilder.de® Picture Location: Financial District, New York City, New York, United States.

It was particularly fascinating for me to see how the wave spread in space and time, and how events that seem to be separated from one another suddenly become a whole picture.

The financial crisis as a tsunami: The wave is spreading The financial crisis as a tsunami: The wave is spreading

Tip: Text as PDF or podcast (please read the instructions!) or to this text complete eCourse Download. Regular promotions or news per Newsletter!


More knowledge - Podcast, PDF download, eCourse or personal advice

Here writes for you: Martin Theyer is the manager of Europe's largest PCB manufacturer, financial expert, book author and lecturer. Profile

From the author:

Best of HR Berufebilder

Read



Our books

Read


The shaft starts driving

Overview

It started with the events around Bankers Trust and Andy Krieger in January 1988. An internal bank audit showed that option trader Andy Krieger creatively embellished his trading results. In order to avoid a public scandal, the events were concealed and the books manipulated with the help of the international auditing firm Ernst and Young.

Tip: Text as PDF or podcast (please read the instructions!) or to this text complete eCourse Download. Regular promotions or news per Newsletter!

Although only a few were affected and no one was harmed, it should prove a big mistake that the wave was not stopped here. Since the case was too complex for the prosecutor, there was no charge. This would send a clear signal to the capital market - the manipulation of books pays off! And the wave could take full swing.

The wave calls for their first victims

Overview

Not five years later, the wave caught its first innocent victims - in December 1994 had due to complex interest speculation Orange County, a district in the state of California, bankruptcy. Treasurer Robert L. Citron at the time speculated on interest rates for innovative bond products developed by Salomon Brothers and Credit Suisse First Boston.

At the same time, he completely overlooked the risk that the interest rate landscape could change from one day to the next. As a result, Orange County had to file for bankruptcy and the citizens of Orange County had to accept substantial reductions in government services as well as higher taxes. For the first time the wave had picked up voters, who, although they were not involved in the speculations, were asked to pay

The wave threatens the USA

Overview

Now, it would not even be four years before the wave threatened to overturn the entire United States financial system. What happened? Long-Term Capital Management (LTCM) was an 1994 by John Meriwether (former Vice PresidentChef and head of bond trading at Salomon Brothers). 1998 suspended the Russian government's payment on bonds and massively devalued the ruble.

Tip: Text as PDF or podcast (please read the instructions!) or to this text complete eCourse Download. Regular promotions or news per Newsletter!

LTCM lost a fortune overnight and could only be rescued by the intervention of the US Federal Reserve, led by Alan Greenspan. In April 1999, President Bill Clinton had to publish a report on the financial crisis.

The US banking system from collapse?

Overview

For the first time, the entire banking system in the United States of America was on the brink of collapse and millions of citizens would have been saved for their savings.

It was only thanks to the rapid intervention of the central bank and the President of the USA that the worst could be prevented. But the wave was not stopped, but spread undisturbed.

The wave unfolds its full destructive power

Overview

After the wave was not absorbed in the US, she was able to expand herself undisturbed and with full force to Europe. What we now call the beginning of the financial crisis in hindsight is, in reality, its continuation! Richard Fuld, the CEO of one of the largest investment banks in the Americas, made the big deal with the resale of real estate loans to European banks.

Tip: Text as PDF or podcast (please read the instructions!) or to this text complete eCourse Download. Regular promotions or news per Newsletter!

But what initially appeared to be a safe investment soon broke into smoke and sound. Due to the high losses and write-downs of the credit portfolio, Lehman Brothers had to take part in the 15. September 2008 filed for bankruptcy and thus initiated the most severe global economic crisis since the 20 years.

Desperate politicians

Overview

A nationalization wave begins, as a desperate attempt by the politicians to save the financial system and thus the real economy. However, in vain. More and more banks must be forced to state and taxpayments are being pumped out of the financial system.

Now all citizens of the old and new world are really affected. State budgets are reduced, millions of jobs are destroyed and social unrest is created. The wave has reached its climax and an end is not yet in sight

The wave is always drawing larger circles

Overview

What we learn from these examples is that they are all interconnected, showing that the wave is ever-widening, capturing more and more people worldwide with their destructive power. Whereas at the beginning of the 90 years only a few were indirectly affected by the wave, nowadays we are all directly or indirectly exposed to the destructive forces of the wave!

Tip: Text as PDF or podcast (please read the instructions!) or to this text complete eCourse Download. Regular promotions or news per Newsletter!


More knowledge - Podcast, PDF download, eCourse or personal advice

Overview


Offline download: Download this text as PDF - Read usage rights, Because we do not automatically submit the title of this text for privacy reasons: When buying in "interests" the title register if support is needed. After buying text exclusively Download at this URL (please save).

3,35 Book now


Listen to Podcast & Download MP3: You can listen to this text for free, as member even without annoying popup, or download the MP3 for a fee - Read usage rights, After the purchase page refresh, then you will find the download link here. Because we do not automatically submit the title of this podcast for privacy reasons: When buying in "interests" the title register if support is needed.

3,35 Book now


Your eCourse on Demand: Choose your personal eCourse on this or another desired topic, As a PDF download. Up to 30 lessons with each 4 learning task + final lesson. Please enter the title under "interests". Alternatively, we are happy to put together your course for you or offer you a personal regular eMailCourse including supervision and certificate - all further information!

16,20 Book now


Consultant packages: You want to increase your reach or address applicants as an employer? For these and other topics we offer special Consultant packages (overview) - For example, a personal phone call (price is per hour).

149,99 Book now


occupations pictures

You want to comment here? Please the Debate Rules comply, contributions must be unlocked. Your eMailAddress remains secret. More information on the use of your data and how you can counter this can be found in our Privacy Policy.

  1. To follow debate on this post
  2. All debates follow
  3. Debates per eMail subscribe (add link here!)
  1. Henry Kürzeder

    The #financial crisis as # Tsunami - already part 3 of the exciting series by author Martin #Theyer @mtconsult

  2. 5 stars experts

    The #financial crisis as # Tsunami - already part 3 of the exciting series by author Martin #Theyer @mtconsult

  3. Martin Theyer

    Third part of my series "The #Finanzkrise as #Tsunami - The #Welle spreads further.

  4. Lars Weber

    The financial crisis as tsunami - Part 3: The wave is spreading | Berufebilder by Simone Janson via @sharethis

  5. Martin Theyer

    Thirty part of my series "The #Finanzkrise as #Tsunami - The #Welle spreads further.

  6. Holger Froese

    The financial crisis as a tsunami - part 3: The wave spreads from #Business

  7. Liane Wolffgang

    The Financial Crisis as a Tsunami - Part 3: The wave is spreading: I was particularly fascinated by it ...

  8. Simone Janson

    The financial crisis as tsunami - Part 3: The wave is spreading #g

Post a Comment

Your email address will not be published. Required fields are marked with * .

JaI would like to be regularly informed about the latest promotions & offers Newsletter be informed.

I hereby accept the Debate Rules and the Privacy policy with the possibility to contradict the use of my data at any time.