Ten years ago the financial crisis started. This affected many people and many companies. The cause of this is because the banks lended money to people freely. These people could not pay back. The bankers done this because they got paid more for lending more money.
I think banks should have stricter rules because bankers are giving money people who can’t pay back. They need to lower the limit on how much money they give the citizens. The government should learn from there mistakes, not giving the bankers more money for lending big amounts of money.
For example Karim, he just opened his business, but as soon as he opened it the financial crisis started. People started to save there money and not buy anything. They were scared. In order for Karim to open the business he had lend money from the bank which meant he had to pay it back. No one was buying anything from the business so that meant he could not pay the bank back. He had to down the business. That is very unfortunate and we don’t want anyone To go through what he went through.
The government needs to up their game and be more stricter. This may be hard as the workers at the bank may argue back because they are getting paid less. It will annoy them and it will all turn into a big debate. No one wants that to happen. It didn‘t just affect this country it affect many countries at the same time. My opinion can be bad and good at the same time but we don’t really know. None of us want the financial crisis to start again because it is already bad enough. People are loosing their jobs.
Tell me what you think about this? What will you do?