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Wednesday, January 7, 2009

Podcast -The rule of risk

5/1/09


Episode: The rule of risk
Date:5/1/09
Time: 23 min
Website :http://www.bbc.co.uk/radio/podcasts/docarchive/


Description of Episode: (The rule of risk) ''As leaders in Europe and America struggle to re-write the rules of international finance following the credit crunch, they investigate the roots and role of risk''.


Why I picked this podcast? (Summary)
I choose this podcast because inside from this it study about the economics of each country , and I want to be involved in economics . This podcast its jobs to talk about economic crisis which happen recently universal, so in Europe and American struggle to write again the rules of international economics however which the results to crunch s ,and they do study about the roots and role of risk. I found a very interesting podcast by BBC about the rule and the risk that’s will wants people now.
The journalist is cycling in central London and she saw in the pass so many accident in the main road in Berlin which world leaders are blending bad risk management for the global filicidal crisis and she asked the people Did bankers and trackers take big risk with our money if so did they no what they were doing .Should they have been more regulation .
There was a conference about risk and regulation in Bevlin and there was a Australian government women who said people reaction for a risk .,She was driving and she saw a man wearing a helmet. He had foil under his helmet so that to stop the aliens from taking out data from the brains
The woman said it was crazy because there more chances for a car or truck to hit him in the traffic than the aliens taking out information from his brain.
Also the government help deal with risk but politicians have the deal with risk and deal with the perception .this means for example in Australian they had good global financial regulation but because of the people perception in other countries in crisis the Australian people were not confident. So they were affected too.
After that a professor said some people are afraid of events that are mysterious of risk of humans action than on natural risk. We have to trust someone who know what they are doing .There are people who are in charges of risk management , assessment and communication. Financial crisis are too many risks taken by investors and traders In banks but the politicians cheered instead of asking banks to stop. The people were not able to pay.
Because there was no recent bad experience to slow down and pay attention to risk investors were given big rewards to keep lending money. Markets were becoming more sophisticated .The french president said self regulation is finished and there will be strict rules. The banks do not have control of financial flow for example if you have
A new car in the market you need authorization but banks do not have this .Banks do not trust people and they do not lend them money.





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