I've been curious to what impact the financial crisis had on the world. After learning about it in class, I have found many different facts.
In the past, the financial crisis had a huge impact on hundreds of thousands of people who had jobs and people that borrowed loans. People lost jobs, homes and money just because of a risk that bankers took and the government not giving them strict enough rules to stop before it got out of hand (which it did). Because this continued, that is when the financial crisis occured.
To this day, people are still recovering from the financial crisis. This is mainly the people that took loans and didn't pay them back. As well as this, more and more people became homeless and many who lost their homes may possibly be dead. Some people still do not have a job even ten years on! I do not think that this is shocking because it is quite hard to find the perfect job that you are good at and you enjoy.
In the future, still people will be recovering from the financial crisis. Since we have already had a financial crisis, if we were to have another one in the future we would be prepared because some people have already got the knowledge of what happens. Banks will become more secure in the future and stricter rules will be set for the individual bankers.
The bank of england think it cost everyone £3000 each which tells you how much of an impact it had on people. As well as this, others lost much more money which led to money loss and repossession.