The people, The bankers, The goverment: Who is to blame for the FINANCIAL CRISIS?!

THE PEOPLE:

The financial crisis could be seen as the people's fault. This is because the people were requesting loans that they could not afford for example people were taking out loans to start businesses however when these businesses failed the people could not pay back their loans. This then leant to the banks losing money and as more and more people could not pay back their loans the bank lost more and more money therefore leading to one reason why the financial crisis happened.

THE BANKERS:

The financial crisis could have been the bankers' faults. This is because the banks were giving out loans to people without checking whether they could pay it back or not. This then leant to the banks becoming more and more bankrupt as the banks were giving but not receiving money.

THE GOVERNMENT:

The financial crisis could have been the government's fault. This is because the government were not placing stricter rules on the banks. This is because the banks were taking risks and giving out loans to everyone as there were no regulations that needed to be followed. This then leant to the banks losing money as the started to become more and more bankrupt.

Overall the financial crisis could have been seen as everybody's fault however I personally believe it is the government's fault.

What is your opinion on this?

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