Lack of regulatory oversight and the inability to resist temptation were among the issues covered today, as Museum of American Finance President and CEO Mr. Lee Kjelleren explored the topic of "Finance, History and the Global Subprime Crisis". He was speaking to CEIBS (China Europe International Business School)students during one of the school's regularly hosted Executive Forum.
According to its website, the Museum of American Finance is the USA's only "independent public museum dedicated to celebrating the spirit of entrepreneurship and the democratic free market tradition". The museum's goal is to "connect the past with the present while providing a guide to the future".
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| From left: Secretary General of the Global M&A Research Centre Wang Wei, Museum of American Finance President and CEO Lee Kjelleren, Deputy Mayor of Shanghai Tu Guangshao, Director General of Shanghai Municipal Government Financial Services Office Fang Xinghai, and CEIBS Assistant Dean Ge Jun. |
During today's easy-to-follow examination of the factors that led to the global economic crisis, Mr. Kjelleren touched on issues including: the subprime mortgage market, the availability of easy money from an ‘ideologically' free market US Federal Reserve Bank, and excess global liquidity competing to find attractive profits. He also put forward the point that if character can be measured by the ability to resist temptation, then large parts of the financial community had failed to exhibit good character.
The forum was hosted by CEIBS Deputy Director of Case Development Centre & Deputy Director of CEIBS Lujiazui International Finance Research Centre Dr. Gary Liu. Among the VIP guests was Deputy Mayor of Shanghai Tu Guangshao, who gave a warm welcome to Mr. Kjelleren, CEIBS Assistant Dean Ge Jun, and Secretary General of the Global M&A Research Centre Wang Wei.
