Soon it will be the first anniversary of the week when the financial world almost saw a complete melt-down. It was on Sunday, September 14, 2008 when Merrill Lynch entered into a shotgun marriage with Bank of America. On Monday, Lehman Brothers collapsed sending shockwaves around the world, followed by the $85 billion bailout of AIG on Tuesday. Governments and central banks worldwide acted quickly. The US government and the Federal Reserve have spent, lent or committed $13 trillion so far – an amount that approaches the value of everything produced in the country last year – to stem the longest recession since the 1930s.
What happened behind the doors of the decision makers on the weekend before Monday, Sept. 15? Have governments chosen the right instruments to face the financial crises? Is the world economy on its way out of the crisis? Has the world been learning the right lessons?
Many questions will be discussed by a distinguished panel of experts including Wilfried Stadler, former CEO of Investkredit Bank and one of Austria’s most prestigious bankers, Erik Frey (Princeton Alumnus), editor in chief of Der Standard and author of the new book “Mit der Krise leben lernen”, and Helmut Friedrichsmeier (Harvard Alumnus), professor at the Vienna University of Economics and Business and author of the new book “Durch Veränderung zum Erfolg."