Australian PM likens businessmen to Gordon Gekko

Zambia News.Net
Sunday 5th October, 2008

In a speech to a group of business leaders, Australian Prime Minister Kevin Rudd has said the global financial crisis proves the world failed to learn from the 'greed is good' era of the 1980s.

Mr Rudd has linked the turmoil in global financial markets with the infamous Gordon Gekko character in the 1987 movie, “Wall Street.”

Mr Rudd said the 'greed is good' era of the 1980s brought on the stockmarket crash of 1987 and played a part in global recession of the early 1990s.

He said the current credit crisis had highlighted the lack of values among corporations and executives, who had proven to be 'a triumph of greed over integrity.'

The Prime Minister called for countries to get together to better regulate financial markets and promised to keep a close eye on Australia's financial system.

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