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| Blame for financial crisis |
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Well the financial crisis has caused a huge problem in this world and we all know what it is and how things would be if it is not dealt with properly and that too with urgency. Look at the scenario around the world and you would understand what financial crisis has caused and what it is about to cause. Let us take the example of a few companies which have directly felt the heat of the financial crisis. Some of those have closed down and some have hugely cut down on the number of employees they have, some reported huge losses and some sought help of others but overall the companies are the ones that are at loss. Well with such situation you also are likely to be affected with the financial crisis because almost all people in this world have been affected by it either directly or indirectly. Whatever your situation be, just like all other billions of people in this world you too would be looking for the answer who is the one to be blamed. To be very frank we all know that many people have come up with the various names responsible for the financial crisis.
Some say it is the Bush administration that should be blamed for all the problems that has been caused but who knows what exactly happened. If you think that it all started in the past 2 years then you probably are wrong. All that you need to do is dwell into the past. It is very true that there were certain aspects where the bush administration did not handle things they should have but then there are certain things were blaming the bush administration would be nothing other than mistakes on our behalf. Wondering what are we talking about? We are talking about the carter era. Remember those days, when he and his administration in an act made banks give away loans just any and everybody. The problem lied there and anybody could come up and take a loan even if they were untrustworthy, they were given up loans. What did it create? Banks started losing millions of dollars. Various banks started looking for CRA ranking so they opened up branches wherever they could. What happened was banks in regions of poor people started losing hugely, again nothing other than a cause for financial crisis? Well it is up to you to decide who is to blame for the current financial crisis but the thing is that before you blame bush and McCain for their mistakes, it is better that you think of the complete scenario and then blame somebody. |
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