At the end of the crisis, according to the U.S National Bareu of Economic Research ( the official artbiter of U.S recessions) the U.S recession started at December 2007 and ended at June 2009 and thus extended over eighteen months. this means that the financial crisis was U.S fault if they didn't borrow to much money from banks all over the world and we wouldn't have been in theis financial trouble.
My understanding of the Financial Crisis
This made a big impact on families and other people.When people fell in this trap they couldn't pay mortgages, rents, loans.... more..... they lost their jobs and homes so they had to live in the street, children couldn't get food because they didn't have the money to buy any. Every one had to leave in the street. We know that we can only trust banks that can be trusted like eg. Barclays,Halifax........and more......
my opinions and questions
As a rule, I think that banks should have stricter rules because if banks didn't have sticture rules than it won't be a bank( my opinion) They should also be careful when they lend the money to people because if it goes to the wrong person then their will be a whole of arguing and complaining because the money didn't go to the right person.So it is important that banks are careful with money and how they are giving it. Q. How can banks keep their money safe? without giving to the wrong person? This links with one of the BNC Weekly Competion. The main idea is thee banks to be a safer palce for people to install their money and the banks keeping it safe: i mean safe as no one stealing it. < the government set a set of rules for the banks to follow, but if they don't follow it then they will will probably fire them or shut the bank because they have the right to keep the money safe and give a back when people want it or the money to pay what they need to pay.If they don't follow it then they will consequences and show injustice. Q. If a bank doesn't follow rules are thay a good bank or bad banks? So this links with people giving to much money to the and the bank lending to much money back.
I think that banks should have name tags because then they could stick to the pack of money that people give to the bank, so then they could know that's their money( the people that gave money to the banks or they are the people's loans, mortgages, rents....more...)
This includes that banks can keep track of people giving money to the and paying what they should have been paying and not losing their own track of their money. This idea should be enforced because this will help people know that they had paid their loans and that they are in the right track on their money enforcements and will not get fined for their not paying of loans.I think that the banks should make another rule, this is my rule that i think banks should have it is people getting the amount of money that is required and not getting to much money or less money, the amount of money that they need for food clothes or gifts for children in need.Comment any other ideas, it can't be what they desperatly like toys or Xbox? This is when i used my reasoning skills as a Burnet News Club member also know aas a BNC member. also linking with that i thought about the governments of the world to set my example of " People getting the amount of money that is required and not getting to much money or less money, the amount of money they need for food, clothes or gifts for children in need.... more"
This idea will be difficult because somehow we need to try and persuade the Government, Loyar, PM(MP), mostly the Government to make this idea come true and fact know that banks at the state are going low a bit, bu i am sure they will be fine if the rules got a bit stricter and will be a better place to instole people money and make them hapier to trust the bank.
Facts found in lots odf different websites. This is were i found some of the facts from
- www.youtube.co.uk( i found facts by some money videos)
This is all i know from the financial crisis.
My interview with Halifax and Mrs Taylas ( facts)
Today i interview i a lady called Mrs Taylas and she used to work in Halifax, but because of the financial crisis she lost her job and couldn't get her mortgages paid and many things sorted out and more, her son was in University, but he could'nt get is education done proparly and it was near to his exams so Mrs Taylas was worried about his son's exam coming near and losing evrything, this ment that she was stuck and couldn't get out of the financial crisis.
This is what she told me about the financial crisis and her life being stuck:
"i found my self stuck because of that financial crisis and had lost my job at Halifax when i really enjoyded it. I found out that some of my other friends where trapped because this was in 2008, i am sure that you were not born at that time. My son that is 28yrs old now had trouble with his education, he wanted to be an engeneer and he was mostly having trouble with his exams and test and all sorts of stuff. His dad started to get anoyed and gave the bank the rest of the money that we affoerded to have and a little bit for food we had to live our house and live in hostile for the next generation until the financial crisis was over.( it was a long time to wait) his dad started to freak out because of this situatuion that he lost his job and ended up in debt. The whole family was in trouble so was many families in the world that were having trouble and it eas not abusing to any of us.
This was started to get annoying as possible and people started to argue and moan wing a lot of thigs was going on. This effected my Son as well because he worked so hard for this exam that he couldn't do it anymore. Peoples money started to drop and people started to lose their job, home......more...... Bills, rents, taxes became high.
One of my friends that i know lost her job, home... and everything because she got trapped in the financial crisis and couldn't get out. Her husband was mad at her because he thought that it is all her fault."
Their is more to this story, but i couldn't afford to wrte it bacuse it was to private. sorry.
So this is what Mrs Taylas told me and this is the questions that i asked that gave me further information:
- how did the Financial Crisis effect you the most? How?
- how did it effect your family specificly? how?
- can you clarify the money situationof what happend in Halifax?
- how did this effect your money? why? how? ??
- did your son have a understabding of how he lost his time from preparing for his exam and lose because of the financial crisis? how? why? when?
- can you give me clear details on how Halifax lost what they needed?
- what happended when you lost your job the day after or before?
- could you extend the idea of the financial crisi and how the money was going down?
Their are more questions...
Mrs Taylas told me that the question where hard to answer so she i asked me further information anbout the crisis being hard fo everyone to live, this ment that her life in Halifax was to to develop, her working experience was a life loss of money.
This is what her job was, she had to be a secretary 0f the bank and she did not work in any Halifax bank , but Sheerness bank which is Kent and was a nearby another bank which was Barclays, she reiceved money and gave money to people and helped people who have money trouble, at the start of the crisis she relised that money started to go down somehow, Few days later money kept on going down, down, until mortgages went up so did rents and other things, but peoples money kept on going down. this ment to her that the financial crisi started.....
Mrs Taylas also said to me that Halofax in Sherrness survived tyhe financial crisis somehow, but had a little tilt down on money, and started to calapse a bit , but everything went fine (according to her) so Halifax maneged to escape the financial crisis.
This ment that Halifax somehow maneged to do what they needed to do.
This are all the qoutes from my interviewing Mrs Taylas and my understanding of the financial crisis