Showing posts with label Economics. Show all posts
Showing posts with label Economics. Show all posts

Wednesday, March 31, 2010

Super Rich: The Greed Game

As the credit crunch bites and a global economic crisis threatens, Robert Peston reveals how the super-rich have made their fortunes, and the rest of us are picking up the bill.

Robert Peston, the BBC’s Business Editor, speaks to some of the heavy hitters in hedge-fund and private equity scene. Along with the investment bankers, these are the very people who have been blamed for the current financial woe’s of the world.

The film highlights the fact that these very few people have become super rich, and while the global economy is collapsing around us, they get to sail off into the sunset, with bulging pockets, to lay back, and wait for the next set of opportunities that will come along.

Which, ironically, will probably be the buying, very cheaply, of the many companies that are in trouble, due to the actions of hedge-funds, private equity firms, and investment bankers in the financial markets over recent years.

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One of the most interesting and thought provoking discussions I have ever seen. Although informative it comes to no surprise in regards to the information presented- all one has to do it look at the world around them to see the effects of capitalism, or for that matter, all forms of government. This documentary is one of the collapse of civilization as we know it from the over consumption and depletion of the resource which has defined modern society-oil. It is the blood which drives our economy and will be the death of the world- not by global warming but its peak and the lack of an adequate substitute.

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