Summary
What could cause a future financial crash? Ian Goldin, professor of globalisation and development at Oxford University, talks to some of the world's leading economists about whether we have learnt lessons from the 2008 financial crash and whether countries are now better prepared to meet the next crisis. Or are we condemned to another economic meltdown, perhaps even more severe, which would provide new fuel to the fires of populism? A decade ago, the world was taken by surprise. Will it be again? Featuring contributions from the IMF's Managing Director, Christine Lagarde, Lord Nick Stern, Professor Peter Piot, Pascal Lamy and Jeffrey Sachs. Producer: Ben Carter
Transcript
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| 0:00.0 | Just before this BBC podcast gets underway, here's something you may not know. |
| 0:04.6 | My name's Linda Davies and I Commission Podcasts for BBC Sounds. |
| 0:08.4 | As you'd expect, at the BBC we make podcasts of the very highest quality featuring the most knowledgeable |
| 0:14.3 | experts and genuinely engaging voices. What you may not know is that the BBC |
| 0:20.4 | makes podcasts about all kinds of things like pop stars, |
| 0:24.6 | poltergeist, cricket, and conspiracy theories and that's just a few examples. |
| 0:29.7 | If you'd like to discover something a little bit unexpected, find your next podcast over at BBC Sounds. |
| 0:36.0 | BBC Sounds. |
| 0:38.0 | BBC Sounds Music Radio Podcasts. |
| 0:41.0 | Hello from Analysis, the Podcast about the ideas behind the new. podcasts. that we're safe from its recurrence. So where could new threats to financial stability emerge? |
| 0:56.0 | Ian Golden, Professor of Globalisation and Development at Oxford University, |
| 1:00.0 | goes risk hunting. |
| 1:02.0 | September the 15th, 2008. |
| 1:05.0 | This has truly been a manic Monday on Wall Street. |
| 1:08.0 | There's the bankruptcy of Lehman Brothers, the sale of Merrill Lynch to Bank of America, and word of trouble with |
| 1:14.2 | the world's largest insurance company, American International Group. |
| 1:18.7 | Panic spread like wildfire across most of the globe. |
| 1:22.0 | The powerful authorities in charge, and most of the globe. The powerful authorities in charge and most of the world's |
| 1:24.8 | leading experts and economists were taken by surprise. |
| 1:30.0 | I made a mistake in presuming that the self-interest of organizations, |
| 1:36.7 | specifically banks and others, was such as that they were best capable of protecting their own shareholders. |
| 1:45.4 | Something which looked to be a very solid edifice and indeed a critical pillar |
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