The Finanatial Crisis - Who Is To Blame?


The financial crisis is a pretty big thing, but who is to blame?

We did this session today, and I was very interested in it...

I will now give reasons for why certain organisations and people are to blame, and reasons how they could have prevented this:

The Goverment:

I think that The Goverment is partly to blame, as they could (emphasis on could) have set stricter rules and boundries towards the bank, yet they didn't. If they had maybe put a limit on how much you are allowed to borrow, looking at how much everyone has in their bank accounts, then deciding, having that information. If they didn't have enough, then they could be asked for maybe a smaller loan, or, it depends, none at all.

The Bankers' Bosses - The People In Charge Of The Bankers:

The Bankers' Bosses are to blame, because they (well, some of them) give rewards to the bankers when they hit/reach a certain target. If they didn't give these rewards, however, the bankers will not have gotten the chance to be tempted for more money, and not take any risks. This explains why this is also partly The Indidvidual Bankers fault as they are the people being tempted and taking those risks.

Us - The General Public:

... who borrow money from banks. We should be more responsible, so that when we borrow money, we only borrow as much as we need, and as much as we know we can pay back; preferably less, so that we know for certain we can pay back exactly what we are given and more, as that is what they ask from us...

Once again, I am torn between all 4 of the reasons, so I think it's safe to say that all 4 of them are partly to blame, as they are all envolved in the making of The Crisis...

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