Abstract
The rising defaults on subprime mortgages in the US triggered a global crisis for the money markets. Many of the world's leading investment banks have collapsed as a result and the US government has proposed a massive bail? out. Similar observations can be made for the UK, Europe and Asia. Other sectors of the economy are also suffering, and the crisis has had a strong impact on the society at large. The situation has become not only an economic but also a societal challenge. In this context, we are increasingly confronted with issues which have effects beyond the borders of nation states, and which include business as well as political and societal institutions of all kinds. Such problems are called wicked issues, because they involve many stakeholders with different values and priorities, and cannot be solved or even dominated by one institution or sector alone (Camillus 2008). The current global financial crisis is such a problem. It has become one of the most radical refor? mations of the global banking sector ever, and it
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
