VIRGINIA BEACH, Va. - The global financial crisis of 2008—the plummeting world stock markets, bankruptcy of large financial institutions and nations forced to "bail out" their financial systems—has millions of people around the world asking one question: "Why?"

One of the most qualified men to address the issue is the internationally recognized professor Prabhu Guptara, the executive director of organizational development for Wolfsberg, a subsidiary of UBS Bank—the largest bank in Switzerland. Guptara is well respected in the banking industry. His credentials are many and include roles such as international speaker, writer, author and scholar.

Guptara came to Regent University's campus in Virginia Beach, Va., on October 13 to participate in numerous faculty meetings for the School of Global Leadership & Entrepreneurship, concluding with a presentation to students, faculty and staff titled, "The Current Global Crisis: Financial or Cultural?"

Guptara spoke about the global crisis with much passion and conviction, urging the audience to understand the crisis as cultural as well as financial. He emphasized the importance of gaining knowledge to understand how to address the current economic system.

"If [the published, scholarly] reasoning is right, the crisis could last a very long time," Guptara said. "Are we going to see a de-civilization of the entire system? The system is out of control."

Why does the current financial crisis exist? Guptara suggested that it is a product of "institutionalization of greed." This means that many of the world's institutions focus on maximizing profit—which poses financial risks through credit transfers/debt, IOUs and devalued currency.

"We have been living in a casino economy," Guptara said in reference to world banks' issues with millions of IOUs in the system.

According to Guptara, the solution to this massive, global problem will take time. He encouraged individuals to specialize in one area they want to tackle and to stick with it. As one example, he suggested a goal of investing in a publicly authorized company and focusing on providing slow and steady growth.

Guptara closed with the example of William Wilberforce, known for his pivotal role in the abolition of the slave trade in England. He said that this feat began through a dream of its abolishment. Wilberforce fought for that goal for years, and although he faced numerous struggles, he managed to cleanse his country of a corrupt practice.

"It takes one man, one woman...that is all it takes," Guptara encouraged. "Be an expert in at least one area. Broaden your understanding. Think globally."

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About the School of Global Leadership & Entrepreneurship

The School of Global Leadership & Entrepreneurship (GLE) is one of seven graduate schools within Regent University and is located in Virginia Beach, Va. Offering fully-accredited master's and doctoral degrees in a flexible online format, GLE provides rigorous, yet innovative academic programs that can accommodate even the busiest professionals. For more information, visit www.regent.edu/global.