The causes of the present global economic crisis

[rosamundjohn]

Please can you answer this question succinctly in no more than 100 words?

[LeMarchand]

Greedy rich people wanting to be even richer no matter who they had to ruin in order to do so.

[abstibus]

The Banker's creed: give me your money. I'll gamble with it. If I win, I keep the winnings; if I lose, you lose.

[shomer42]

china

[jake-the-peg]

Mass online stock trading has enabled large numbers of people to play the stock market.

This has caused companies to take an extreme short term view their stock prices can be more heavily affected by a singl quarters results.

This has driven a very short term view which in turn has promoted cultures of extreme risk taking - if you're not making your numbers you take a risk .

These risks have come home to roost first in the financial services industry where the pressures were most er Darwinnian

[Twenty20]

Also, Banks and financial institutions lending money to people who had no hope of paying it back. Then other Banks and institutions buying the bad debts off the original lenders. And so it spread around the World. Why Banks in the UK were keen to buy sub prime mortgages off US companies is beyond me.

[terambulan]

Too much borrowing and little paying back!

[bemore]

Go to google video and watch Zeitgeist Addendum.

Explains everything.

[factor-fiction]

To answer a question succinctly in 100 words one needs to know the audience. For example, is it for a dinner party conversation, a GCSE homework question, a degree level piece of coursework or an article for a learned journal?

[rosamundjohn]

An A level essay Factor

[rosamundjohn]

going to google video