Ec4024 Lecture7: Crises

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Stephen Kinsella

Business Wirtschaft & Finanzen

• Admin: PS1 Up, Due Mar 6th
• Tutorials OK?
• Times in Labs

• Business Cycles & Finance
• Financial Fragility
• Data

US Case

Read: Robert Shiller, The Subprime Solution

Some examples of CEO salaries in the US in
2006 may give some context:
Bear Stearns: $34 million for CEO James
Cayne,
Lehman Brothers: $27 million for CEO
Richard Fuld,
Citigroup: $25 million for CEO Charles
Prince.,
Countrywide Financial: $43 million for CEO
Angelo Mozilo.

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