Who is to blame?

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Lately we have been talking about who is to blame for the financial crisis. In this post you will have to choose between four people that you would blame and why? The four people in this post will be the bankers bosses, the individual bankers, the public and finally the government. Comment down below on who you think is to blame.

The bankers bosses:

The bankers bosses have not been firm enough with their staff. They also have been giving away loans when they know that the person will not pay it back. Also, they were offering rewards to the bankers for earning the bank money.

The individual bankers:

The individual bankers did not pay attention and were just wanting big money rewards.

The Public:

Personally, I don't think that the Public had anything to do with it. On the other hand, they did not pay back the loans.

The Government:

The Government did not set strict rules for the Bank of England.Therfore, the bank of England did not set rules for the smaller banks. Which then played a big part in the financial Crisis.

Comments (2)

  • Ormiston-Bushfield-logo-250x250.jpg incredible_seagull
    Ormiston Bushfield Academy 04 Dec 2018

    Everyone's to blame! There is no individual person or category within the banks that caused a tsunami of problems throughout society. It was all of us and we could not see it coming until it had happened.

    If rules are not put into place and enforced, how can bankers prevent a financial crisis. On the other hand they wanted bonuses from their managers instead of looking after their countries financial needs, despite this if no bonuses were put in place the financial crisis could have been prevented. Some might argue managers should of been warned by the government about the consequences of their actions.

    Therefore the cycle continues as the blame is passed up the hierarchy within banks creating worldwide debates and discussions. As if there is not enough chaos already, more arguments and perspectives are forming within the issue that add to the ongoing confusion of to how to prevent the past from repeating itself.

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  • Willowtown-logo-250x250.jpg knowledgeable_iceberg
    Willowtown Community Primary School 04 Dec 2018

    I agree with you perfectly as you said bankers bosses were not firm enough with the bankers. In addition i think the government was also to blame partially because when they saw all of these things happening and that the banks were making a loss not a profit they didn't step in to give them some advice or to stop the financial crisis going any further.

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