The Financial Crisis was in 2008 when things started to go downhill for banks.This was because bankers were lending money to anyone who asked for it without checking if they could pay it back.After a while banks ran out of money,therefore people lost thousands of pounds and people could'nt pay for their rent/daily needs.
I chose Idea 3:Stricter rules for banks.I picked this because if there are stricter rules for banks it is more likely that there won't be another Financial Crisis because less people can take money out.Also some people would get to take money out if the banks knows they are trustworthy enough to pay it all back.This idea should be enforced because the quicker it happens the faster there won't be another Financial Crisis.Although, it would be difficult to make it happen because lots of people would rebel against the idea since they might not be able to pay their money back in time,then would not be able to borrow money from their bank anymore if they wanted to buy a house/technology/expensive things.
The winners of this idea is the bank because they wouldn't have to suffer from another Financial Crisis.Also people that pay that money back to the bank in time would benefit since if less people borrowed money they possible may be able to borrow more when they need it.For example, a man called Dave works in an office he often asks to borrow money from the bank to pay for his rent,the bank lends it to him because they know he can pay it back.
The losers of this idea are the people that can't always pay the money they ask from the bank back in time/not regularly.For example, a man called Bob works in a cafe he also often asks for money from the bank to pay for his daily needs and rent.One time the bank said no to lending him money and Bob could not pay his rent and was then in an extremely difficult position.
This idea is fair because the people that pay their money back would still be able to borrow money when they need it.This idea is also not fair because the people that don't pay their money back in time wouldn't be able to borrow money and they would say the idea was not at all fair.
Thank You for reading my Final Piece!