Fianancial Crisis. The Blame Game!


What the Financial Crisis actually was.

This financial meltdown not only affected the United Kingdom, it effects globally showing us that when something complicated goes wrong it can cause worldwide chaos. As the 2008 Financial Crisis demonstrated ten years ago it would be disastrous if it were to happen again.

The Suspects

  • The Bankers
  • The Banker's Bosses
  • The Public

The Bankers

When the bankers were given a bonus for making more money for them, this planted a seed in their minds which grew and gave them the idea that if they took risks to try and make more money for the bank they would keep getting these money bonuses. As a result they took these risks and this then caused people to think that this is what started the Financial Crisis.

The Banker's Bosses

As explained previously, the banker's bosses gave the normal banker's the bonus after doing good work for the bank. This could cause people to think that it was the fault of the bosses to try and get the normal bankers to take this risk. However, this was probably just a bonus for doing a good job and the bosses were not hinting for the other bankers to start doing risky things like they did. Moreover, the bankers would have had their own choice as to whether to do this but they are the ones who decided to take the risk.

The Public

The reason many people think that this was the general public's fault was the fact that people were getting loans they were not going to be able to repay. As a result of this banks started to lose money and were struggling to survive and in the end many had to close down.

In conclusion, there is still scepticism over whose fault it actually was. However, we know one thing, and that is we never want anything like this to occur in the future.

Now it is up to you, leave a comment as to who you think caused this crisis and why.

Comments (5)

  • Olivia-Avatar.jpg Olivia @ Topical Talk
    07 Dec 2018

    Thanks for your post! I have given you a star for reasoning and for giving reasons why each of the different parties should be blamed.

    Which of the three do you think it would be hardest to make rules for, to stop this from happening again?

    PS. I removed the images you added as we can only use images that we have the copyright for (found in the image library) or ones that you have drawn/made yourself.

    Reply to this comment
  • St-Barnabas-logo-250x250.jpg elated_parrot | St Barnabas C of E Primary School
    07 Dec 2018

    I think it was everyone's fault for the financial crisis.
    The people's fault because they were taking too much money and they couldn't pay it back meaning the banks were lending to much money and therefore lost alot of money- the financial crisis.

    The bankers for making risks with people's money. The bosses also link in to this for they gave the people's money to the workers in prize for making money (by making risks) tempting them to risk more but the risks went wrong making -you guessed it-the financial crisis.
    In conclusion,it is everyone's fault for the financial crisis. We all took risks and it didn't go well.

    Reply to this comment
    1. The-Ruth-Gorse-logo-250x250.jpg helpful_wallaby | The Ruth Gorse Academy | United Kingdom
      elated_parrot's comment 07 Dec 2018

      Thank you elated parrot for showing such interest but on a whole who would you say is most responsible for the Financial Crisis

      Reply to this comment
      1. St-Barnabas-logo-250x250.jpg elated_parrot | St Barnabas C of E Primary School
        helpful_wallaby's comment 20 Jan 2019

        I would say the fault is the government because there the one taking the money from the people and it’s not fair the people who don’t even have a house

        Reply to this comment
    2. Boutcher-logo-250x250.jpg impartial_panda_bear | Boutcher C of E Primary School A | United Kingdom
      elated_parrot's comment 07 Dec 2018

      I agree, I think everybody had a part to play and should be more careful. If course, not EvERYBODY would have even taken a loan at that time, but the general public, bankers bosses and bankers themselves all were wrong. I would be interested to find out if you thought the government were to blame - does the government get included in everyone?

      Reply to this comment

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