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.
Your assignment is to get to know some of the “key players” and render an opinion regarding the above-mentioned information.
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