GFC – TEN YEARS – BANKRUPTCY

Ten years ago  Lehman Brothers collapsed and that was the start of the GFC.     The US housing market collapsed and the complex derivative which was made up by subprime mortgages went into a tail spin.   The target driven greedy and incompetent bankers were bailed out using tax payer’s money but millions lost their job and homes in US.

Here in New Zealand we were fortunate enough to have Sir John Key become the Prime Minister at the start of the GFC. His experience in the financial system help us steer through the crises. GST increase were implemented in his first term.

Where will the next financial crises come from – cryptocurrencies and blockchain?