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CHARBONNEAU – Ten years after the Great Recession, nothing’s changed

A DECADE LATER, the crisis that threatened to take down the global financial order seems like a bad dream. Now it’s business as usual.

In 2008, banking institutions creaked and groaned under the weight of flawed investments. Mohamed El-Erian, CEO of a large U.S. investment management firm, phoned his wife and asked her to withdraw as much money as she could from an ATM because he feared the banks wouldn’t open the next day. A hedge fund manager sent an email to a journalist during the meltdown saying: “It feels a little like the end of the world.”

But the problems have been fixed, haven’t they?  Yohann Koshy, editor for New Internationalist magazine, is not so sure.

Read More >>

David Charbonneau is a retired TRU electronics instructor who hosts a blog at http://www.eyeviewkamloops.wordpress.com.

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About Mel Rothenburger (6186 Articles)
ArmchairMayor.ca is a forum about Kamloops and the world. It has more than one million views. Mel Rothenburger is the former Editor of The Daily News in Kamloops, B.C. (retiring in 2012), and past mayor of Kamloops (1999-2005). At ArmchairMayor.ca he is the publisher, editor, news editor, city editor, reporter, webmaster, and just about anything else you can think of. He is grateful for the contributions of several local columnists. This blog doesn't require a subscription but gratefully accepts donations to help defray costs.

1 Comment on CHARBONNEAU – Ten years after the Great Recession, nothing’s changed

  1. Alan C. Kuhnert // November 8, 2018 at 4:39 PM // Reply

    ‘‘Twas ever thus….the more things change and blah, blah,blah. The rich keep accruing countless billions while the vast majority (ie the middle class) are barely clinging to their middle class status. How can the CEOs and their ilk think that salaries of 20, 30, and 40 million are in any way shape or form a fair and equitable distribution of wealth?!?? Trust me A Great Correction is Coming!

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