Who was at fault for the Global Economic Crisis for real?

Question

Really, I honestly do believe that it was Osama bin Laden although I could be wrong. I also do in fact believe that Bill Clinton was at fault for it. 9/11 could have had something to do with it as well as Bernie Madoff. Some say it was George W. Bush's fault, while others say it was "The Banks." I think that Wachovia had something to do with it believe-it-or-not. I think we need to get rid of Obama. But, for real, who was at fault for the 2008 World Financial Crisis? Who was the mastermind behind all this? Who was at fault for the Global Economic Crisis for real please be really honest. In-truth, who created this mess honestly?

Answer 1

it was bernanke and the fed, they pushed up interest rates without realizing that the debt packages being traded were borderline, the increase pushed them into toxicity and devalued them leaving banks all over the world holding worthless paper, later the fed had to reduce interest rates to near zero to solve the crisis if they had reduced interest rates in 2008 or even left them where they were none of the problems would have happened, but the SEC should have stamped on these crooked debt packages long before

Answer 2

Many people spending too much following the examples of the rich and famous. Property is too expensive, you could spend a lot there and the general attitude of I must have. Financial security is a thing of the past. What about businesses? The owners? They also love to spend. Where is all the money going? To lucrative markets. Instead of $145 000.00 on a new car, $500 000.00 on a new luxuary vehicle is good.

Answer 3

If banks lend to much money to people who can't pay it back,then the economic sytem will collapse. It is an internationl banking problem, not just one bank in one country.

Answer 4

The american Taxpayer



For giving money to banks

For not spending money after they "recovered it"

And then for stealing music, movies, and games instead of BUYING THEM!

Answer 5

You kind of have your conspiracy theories a bit muddled.