Components

Worldwide Collapse of Financial Markets in 2008

Ozzie Mascarenhas SJ, Ph.D.
June 25, 2015
SKU:
BUS-003983
Region: 
Africa, Asia - Pacific, Europe, Latin & South America, North America
Topic: 
Strategy & General Management
Length: 
7 pages
Keywords: 
2008, worldwide, collapse, financial, markets, Paris, disaster, government, Debt, convention, tax deductibility, communism, Ozzie, Oswald, Masc, Ma, Mascarenhas
Student Price: 
Free
Cases in Corporate Ethics 1.1: The year 2008 will go down in American and global economic history as the worst since 1931. The year began with a shock – Société Général of Paris lost 4.9 billion Euros (then, around US$6.8 billion) on the unauthorized speculative positions held by a low-level trader. This presumably gigantic loss was quickly dwarfed by a series of disasters that followed. Some events in this regard are chronicled in this case series.