Dubai skyrocketed to success as a capital of luxury and spectacle, but its growth has been abruptly halted by billions of dollars in debt. The failure of development firms like Dubai World and Nakheel will having serious repercussions for Middle Eastern and European markets.
A variety of economic experts give their opinions on the causes of the recent economic crisis and the future of the financial system. All agree that the system has been severely damaged -- the only question is how long will it take to recover and will it ever really be the same again?
This clip from the documentary film "The Smartest Guys in the Room," based on the best-selling book by Bethany McLean and Peter Elkind, examines the rise of Jeffrey Skilling, the CEO of Enron. Skilling is shown to be a brilliant but ruthless man who believed that he and Enron stood at the peak of a Darwinian food chain, justifying whatever action was necessary to keep them there.
An in-depth examination of the causes of the financial crisis, from Alan Greenspan's leadership of the Federal Reserve to Ben Bernanke and Henry Paulson's decision not to bail out Lehman Brothers. This segment helps clarify the confusing role of derivatives and ratings agencies in the crisis.
San Diego City Council Member Carl DeMaio says that retirement benefits for city workers are at unsustainable levels and are driving the city to insolvency or bankruptcy. In this interview with Fox Business, DeMaio blames the city's powerful unions and says the city must take drastic action to avoid insolvency.
Dubai's inability to repay its massive debt caused a brief panic in Asian and European markets, but nearby Emirate Abu Dhabi has stepped up with a $10 billion bailout. The bailout suggests that smaller, poorer countries can rely on their powerful neighbors to rescue them in tough times.
Based on real events, Barbarians at the Gate follows the CEO of RJR Nabisco's attempt to buy his own company. A frantic bidding war ensues, illustrating the excess of 1980s corporate culture. Barbarians at the the Gate is more lighthearted and realistic than Wall Street, and it provides a useful lesson about corporate takeovers.
President Obama's pay czar, Kenneth Feinberg, has slashed salaries of the top 20 executives in seven firms and is now looking at the salaries of the next 75 most highly compensated employees. Even companies that didn't receive government money, like Morgan Stanley, are looking for ways to take back bonuses if employee actions end up costing the company money...
FDIC Chairman Sheila Bair discusses the role of government in regulating executive pay, especially in regards to banks that received federal bailouts.
In this series of videos, faculty from Duke University's Fuqua School of Business discuss their research projects on subjects related to economics, consumer behavior, and leadership.
