The document discusses the global financial crisis of 2008 and its causes and consequences. It analyzes factors like the mortgage industry, government policies, and household debt that contributed to the crisis. It also outlines some of the massive costs of the government bailouts. Finally, it argues that a new, more prudent and integrity-focused approach to management is needed to promote recovery and development.

1. New Graduates managing for theupturn Tomás Cafferata 25.06.2010

3. Whathappened? A world in crisis

4. A World in Crisis 425 pts. 2001

5. A World in Crisis MortgageOriginations 25% 2005

6. A World in Crisis Banks’ excess of depositsoverloans / $trn 2 1 + 0 - 1 2 Developedworld 2008 Emergingmarkets

7. A World in Crisis 2008

8. A World in Crisis -21.5% -7.4% -15.2% -14.4% 2009

9. Who are tobeblamed? Ourliability

10. TheMortgageIndustry Lenders Appraisers

11. TheMortgageIndustry Rating Agencies

12. TheMortgageIndustry Banks

13. TheMortgageIndustry

14. Governments Mark-to-market Administrations FED Rate HousingReform Gramm-Leach-Bliley

15. Ourliability U.S. HouseholdDebt / DisposableIncome

16. Ourliability U.S. AnnualCreditCardSolicitations in Billions

17. Ourliability U.S. Percent of FamilieswithCreditCardDebt Year 1989 Year 2005

18. Whichactionsweretaken? Payingthepiper

19. Payingthepiper 4.9tr. 2800 USA 624 Germany 586 China 468 France 260 Netherlands 238 UK

20. Payingthepiper 4.9tr. 2900 War in Irak 689 Poland’s GDP 515 Y. Shiftingto solar power 465 5y. Kid’sfood and education 200 Africa’spoorestcountriesdebt 113 Argentina’sdebt 115 Marshall Plan

21. The Big Picture People Companies Government Confidence

22. The Big Picture People Companies Government People Companies Government Unemployment Bankrupts Downturn

23. The Big Picture People Companies Government MISMANAGEMENT

24. A new MANAGEMENT fortheupturn

25. Howtomoveon? Managingfortheupturn

26. Managingfortheupturn Negligence Prudence Returns Integrity Liquidity

27. Managingfortheupturn Common Good Development

28. Managingfortheupturn

29. thankyou.

30. New Graduates managing for the upturn Tomás Cafferata 25.06.2010