Wharton Business Radio Highlights

Business Radio Special: The Great Recession: What's Changed in 10 years Part 1On September 15, 2008, Lehman Brothers declared bankruptcy which sent the stock market tumbling. The problems that started in the US soon spread to Europe.  Several European nations, including Greece, Italy, Portugal and Spain, faced austerity to deal with their debt, and still face issues today.  Wharton Finance Professor,  JOAO GOMES, and ERIK JONES, Director of European and Eurasian Studies, Johns Hopkins University School of Advanced International Studies, join us to discuss how the European Union dealt with the recession and its lasting impact. Then, Iceland was the textbook case of the global banking crisis. Back then, the three biggest banks in Iceland had assets that were 14 times the national economic output of the country. At the height of the crisis Iceland's debt was close