Share
This Week in Business
Wharton Experts on The Great Recession, 10 Years Later - Part 1
Business Radio Special: The Great Recession: What's Changed in 10 years Part 1
On September 15, 2008, Lehman Brothers declared bankruptcy which sent the stock market tumbling. The problems that started in the US soon spread to Europe. Several European nations, including Greece, Italy, Portugal and Spain, faced austerity to deal with their debt, and still face issues today. Wharton Finance Professor, JOAO GOMES, and ERIK JONES, Director of European and Eurasian Studies, Johns Hopkins University School of Advanced International Studies, join us to discuss how the European Union dealt with the recession and its lasting impact.
Then, Iceland was the textbook case of the global banking crisis. Back then, the three biggest banks in Iceland had assets that were 14 times the national economic output of the country. At the height of the crisis Iceland's debt was close to 100% of GDP. Today that number is 24.1%. We look at how the country recovered and the risks it still faces with PHILIP NICHOLAS, Wharton Professor of Social Responsibility in Business and Professor of Legal Studies in Business, and THORVALDUR GYLFASON, a University of Iceland Economics Professor.
Next, after Lehman Brothers collapsed and the stock market plunged, Congress passed a $700 billion bailout bill to save the US financial system. Corporations deemed "too big to fail" got help. President George W Bush and, after his inauguration in January. 2009, President Barack Obama worked with Congress on new regulations for financial institutions, including the Dodd-Frank Act. Wharton Legal Studies and Business Ethics professors PETER CONTI-BROWN and DAVID ZARING join us to discuss how the banks recovered from the recession and where things stand now with regulations.
Finally, one of the most significant parts of the financial crisis in the US was the housing bubble. Banks were making home loans often without down payments to people who couldn't afford them. When the bubble burst, millions ended up in foreclosure and various metropolitan areas around the country, like Las Vegas, Modesto and Fort Meyers, found themselves in dire economic times. Rules were changed to make it a lot more difficult to qualify for a mortgage, with more stringent requirements on down payments. We look at the housing crisis and how things look today with SUSAN WACHTER, Wharton Professor of Real Estate and Finance, and BENJAMIN KEYS, Wharton School Real Estate professor and Faculty Research Fellow at the National Bureau of Economic Research.
More episodes
View all episodes
Career Growth, Job Mobility, and the Modern Workforce
11:03|Matthew Bidwell, Professor of Management at the Wharton School, explores the realities of job hopping, the importance of adaptability and skill-building early in a career, and how economic conditions and AI may shape career decisions for new graduates entering the workforce.
Rethinking Urban Tax Policy Through Land Value Taxation
11:32|Robert Inman, Wharton Professor Emeritus of Finance, discusses how land value taxation, inspired by economist Henry George and successfully implemented in cities like Pittsburgh, could provide New York City with a more sustainable way to raise revenue without discouraging investment, housing development, or business growth.
How Economic Strain and AI Are Reshaping Family Roles
13:52|Corinne Low, Wharton Associate Professor of Business Economics and Public Policy, discusses how rising costs, persistent gender inequalities, and emerging AI-driven labor shifts are intensifying pressures on working mothers and reshaping economic and household roles.
How AI Agents Are Transforming Modern Marketing Strategy
15:14|Stefano Puntoni, Wharton Marketing Professor and co-director of the Wharton Human-AI Research Program, discusses how AI-driven search, discovery, and autonomous agents are transforming marketing, consumer behavior, and the balance between human and machine decision-making.
Climate Regulation Rollbacks and the Rise of Nuisance Lawsuits
13:26|Sarah Light, Wharton Professor of Legal Studies and Business Ethics, examines how efforts to repeal the EPA’s endangerment finding under the Clean Air Act could limit federal regulatory authority while opening the door to expanded state-level nuisance lawsuits against power plants and fossil fuel companies.
Markets React to Iran Tensions and Rate Uncertainty
12:14|Jeremy Siegel, Wharton Emeritus Professor of Finance and Senior Economist at WisdomTree, explains how Iran-related tensions, Federal Reserve uncertainty, and continued AI sector expansion are influencing market resilience, investor sentiment, and the outlook for interest rates and equities.
Measuring the Impact of Europe’s Conservation Targets and Policies
14:00|Arthur van Benthem, Wharton Professor of Business, Economics and Public Policy examines how European Union land protection policies—despite meeting ambitious coverage targets—may fall short in delivering meaningful biodiversity and ecosystem restoration impacts.
Why Reverse Morris Trust Deals Demand Strategic Discipline
12:26|Emilie Feldman, Wharton Professor of Management, discusses how reverse Morris Trust transactions influence merger strategy, tax efficiency, and value creation through scale-driven synergies.
How AI Is Reshaping Blue-Collar Work and Skills
11:59|Lynn Wu, Associate Professor of Operations, Information and Decisions at the Wharton School, discusses how AI is driving a shift in blue-collar work, reshaping job responsibilities, and creating new opportunities for human judgment, adaptability, and problem-solving in an evolving workforce.