"...how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced 'light touch regulation' -- giving bankers a free hand in the marketplace. All this, and with key players making the wrong financial decisions, saw the world's biggest financial collapse."Part One, the men who crashed the world... Part Two, a global financial tsunami... Still to come are Paying the Price and After the Fall.
02 October 2011
Meltdown ~ Al Jaz on Crashing the World...
Al Jazeera casts forth Meltdown, a continuing multi-part investigation of the 2008 global financial collapse and consequences, asking...
Labels:
Aljaz,
Capitalism,
Corruption,
Crash,
Finance,
Global,
Markets,
Politics,
Stupidity
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