What caused the global economic and financial crisis?

[financeguy]

Your opinions requested in this thread.

 

[INDY500]

Apart from the Jews?

In 10 words or less -- the debt bubble burst and capital dried up.

 

[Se7en]

...the ultimate cause of the current global financial crisis is to be found in the deeply flawed institutions and practices of what is often referred to as the New Financial Architecture (NFA) – a globally integrated system of giant bank conglomerates and the so-called ‘shadow banking system’ of investment banks, hedge funds and bank-created Special Investment Vehicles.

http://www.peri.umass.edu/fileadmin/pdf/working_papers/working_papers_151-200/WP180.pdf

 

[No spoken words]

Apart from the Jews?

In 10 words or less -- the debt bubble burst and capital dried up.

We'll have a statement on this tomorrow.

 

[AliEnvy]

A few things combined to create a perfect storm, however, I believe deregulation of financial markets is the root cause.

 

[BVS]

Bono

 

[Irvine511]

Hillary.

 

[Vincent Vega]

Oliver Stone.

 

[kramwest1]

I vote for the Gramm Act.

Gramm-Leach-Bliley Act - Wikipedia, the free encyclopedia

That, and people feeling deprived so they were morons with their own finances. Oh, and greed.


Mark

 

[A stor]

I'm not sure.

But, in the U.S. many people were given mortgages for homes, they could not afford.

 

[mikal]

9/11

 

[financeguy]

There are some good responses here. 9/11 - now that's an interesting one.

 

[financeguy]

We'll have a statement on this tomorrow.

I KNEW IT!

Will your statement feature the words 'duplicitious' and 'all-knowing'? Will it be signed by Emmanuel Goldstein-Rothschild?