Financial Crisis: Parts to Play


Alistair Darling (chancellor at the time)

Why did he have to save the failing banks? Some may say it was his job to that but the fact that he had to to save those banks, lost the faith of the country and led to banks' profits decreasing. Because of the decreasing of profits in banks they, therefore, couldn't give loans to people. This makes a circle of money loss. The following are reasons why they had parts to play:

  • He lost the faith of the country
  • He used money on what could have been used to help more people
  • What he did lead to many more things which did a lot of damage

People taking out loans

If you can't afford it why do you take it? In the worst circumstances, many may say that it is okay but taking money when you can't pay back is just going to land you in a worse situation.The following are reasons why they had parts to play:

  • Banks weren't getting back what they were supposed to because they took out loans when they couldn't
  • Other people couldn't get loans beacause the banks didn't have enough
  • Banks had to close down; they were bankrupt because of the money they lost giving out loans

Banker's Bosses

Bribing is obviously not the way so why do it? We know that the more money they make, the better but bribing led to people who can not afford to, taking out loans.The following are reasons why they had parts to play:

  • They bribed the individual bankers which caused them to take unnecessary risks
  • They didn't hep when they realised the mistake they had made
  • They kept on making the same mistake

Individual Bankers

Resisting urges is a part of growing up, why couldn't they apply this? We know that they were bribed but as an adult they should be able to resist temptations. The choices they made were naive and selfish so I don't believe we should give them any lenience just because they were bribed.The following are reasons why they had parts to play:

  • They made some selfish dejcisions which left people in deeper debt
  • They actually lost money making dels with people who can't afford it
  • They weren't thinking twice which is part of their job of being a banker

I would like to apoligise if you felt I dwelled on certain parts too much please tell me if you think I was incorrect at any point. Thank you.

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