‘Thepoint is, ladies and gentleman, that greed – for lack of a better word – isgood. Greed is right. Greed works. Greed clarifies, cuts through, and capturesthe essence of the evolutionary spirit. Greed, in all of its forms – greed forlife, for money, for love, knowledge — has marked the upward surge of mankind’.- GordonGekko (full speech) Age of Greed establishhow the devoted and selfish pursuit of vast personal treasure has been on the growthin the United States over the last 40 years. Gordon Gekko’s arguments, detentions thesoul of a very tangible era: the Age of Greed.
This remained a period thatstarts when the first financial product was introduced on the ChicagoMercantile Exchange in 1972 and finished with Lehman’s failure in 2008. It wasa time when ‘greed is good’ and ‘bigger is better’ were the dual-mottos that seemedto support the American Dream. Thestory of Gordon Gekko becomes the heart of the environment of greed. The term’greed’ has etymological roots that relate to ‘hunger’ and ‘eagerness’. Greed turnslike a disease in society – whereby an essentially strong cell in the bodybecomes selfish and ends up extinguishing its host. As significant as thegreedy cell is the environment which allows it to live and succeeds. The Age ofGreed endured not just something ‘out there’. It was not the sphere of a few crooktraders.
It is in detail a multi-level sensation, incorporating exclusivegreed, banking greed, financial bazaar greed, corporate greed and ultimatelythe greed rooted in the capitalist system. “The Fall of the House of the LehmanBrothers” (Fraser, 2009), one of the eldest groups in the United States on WallStreet, delivers a flawless illustration of which way the regulation of free-market, greed, power,and fast answer solutions infects companies and businesses. Originated 158 years ago it was one of the majorinvestment banking society in the United States of America. Over the 1930s, theLehman Brothers prolonged into bleakly Securities industry when the U.
Sgovernment forced all financial unions to choose between profitable banking andSecurities. During the economic collapseof the 2007-2008 financial disaster state of the messy economy was in a shockingstate. There were numerous sustainable features that was used to support stablethe economy, but even though that only several economic societies were saved bythe government active tactics. The bankruptcy and failure of the LehmanBrothers residue a catastrophe and instead of following procedure of saving theLehman Brothers business, the government take a seat and let the LehmanBrothers to crash. Greed, force to remain cheapand the ravenous pursuit for rapid incomes and made Lehman powerless to meetthe future financial doom that was to succeed it.
This made it to act in somany immoral manners and interrupt basic CSR laws. The bankruptcy of theLehman Brothers deliversa logical illustration of how people and industries let the passion of temporarygreed and influence to control their choices.