How can we prevent another financial crisis : The rules..

To prevent another financial crisis in the future, banks may have to set rules and regulations on their policies and keep a close eye on the money their lending.

Some rules could be:

Showing a wage slip when asking for a loan;

Letting the bank look up your record of how much money you've spent in the last week or so and what on;

Making sure your able to pay the banks back after the loan has been spent;

Keeping a closer eye on the money whilst someones spending it to make sure they didn't take out the loan and spend it wrongly;

Etc

These rules could be implimented in the future of the banks to ensure nothing like the incident in 2008 where the UK's lost output was £7.6 trillion. Can they prevent a financial crisis in the coming years?

Comments (2)

  • Olivia-Avatar.jpg Olivia @ the BNC 22 Nov 2018

    Interesting ideas - I'd like you to research how loans are given and see whether your ideas are already in place!

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  • Ravenscroft-logo-250x250.jpg strong_river
    Ravenscroft Primary School 22 Nov 2018

    we can prevent the financial crisis by repaying the money that the bank need and don't spend the money that they gave you because it you could take a big risk and it is not good. Charitable people please do not let the financial crisis happen again I believe in you!!

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