The Global Financial Crisis

711 WordsJan 28, 20183 Pages
There is no smoke without fire. The global financial crisis caused from hundreds of thousands of decisions and changes from different areas. The America government, Wall Street and the Rating Agencies put on this world-shaking show together. And to be more specific, the top officials in politics and finance pull strings behind the senses. Applying Mintzberg’s ten management roles model as a frame, the America government, Wall Street and the Rating Agencies are correspondingly divided into three categories as interpersonal, decisional and informational. Government is obviously and absolutely a leader for the people in the country. People count on their government and on the other side, every decisions government made, every bills Congress passed is closely related to people in the bottom. In the global financial crisis, government decided to deregulation and negligent to have contingency plan to protect country economics. Government deregulation in financial market had precedents back in last century. In 1981, the Reagan-administration was supported by economics and financial lobbies and started thirty-period financial deregulation. Later, the Reagan-administration also deregulated the savings loan company and allowed them using deposit money to do risk investment. But by the end of 80s, hundreds of company failed. It has been described to be the biggest bank robbery in the history at that time and it caused millions of people lost everything over one night. The

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