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Business Weekly Archive: Global Aftershocks

12/09/2009

Global Aftershocks

BBC World Service - Business Weekly Archive, Global Aftershocks

Meet the men who told the Masters of the Universe they weren't in charge any more.

Meet the men who told the Masters of the Universe they weren't in charge any more.  And why Chinese migrant workers are at the bottom of the world's economy - even according to their own government.

Business Weekly reports from America, Europe and China on the after effects of a weekend of financial convulsion a year ago.  Merill Lynch was bought by Bank of America, AIG was bailed out by the US Government and, most reverberating of all, Lehman Brothers collapsed.  
Steve Evans meets Tony Lomas and Steven Pearson - the administrators of Lehman Brothers Europe.  These two men from accountants PriceWaterhouseCoopers give an extraordinary insight into what it was like to tell highly educated and highly paid men and women that their company didn't exist anymore.  
And the effects of that collapse and the  problems other big banks discovered a year year ago have rippled out around the world.  Lesley Curwen discovers that Chinese migrant workers have been losing their jobs as a result.  But are there now signs that they are returning to their old workplaces as the world economy starts to show signs of recovery?  Lesley joins the workers as they gather at train stations and hiring points across China.

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