n AfricaGrowth Agenda - When life imitates art : Mel Brooks and the Bankers

Volume 2010, Issue 10
  • ISSN : 1811-5187


The current financial turmoil commenced in the United States in mid-2007, and reached its peak in September 2008, following the collapse of Lehman Brothers, the largest bankruptcy filing in U.S. history. These events threatened for a time to trigger a worldwide depression. Such a dire outcome was averted by concerted fiscal and monetary policy actions. Even so, the turmoil on the international banking scene has reverberated round the world. In an era of global finance, such local events are no laughing matter. Or are they?

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