The bank is the place where people can get the money from the future and thus too much money flows in the market
Updates from Tuesday 29th October, 2013 Toggle Comment Threads | Keyboard Shortcuts
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Adrianna
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Yan Gao(Helena)
People who borrowed money are responsible because they cannot pay back the money in short run and the bank would be overwhelmed.
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Megan Chan
The money managers decide and advise others as to where and who the money goes to, so they would be responsible.
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nicholasyoung
Banks manipulated interest rates altering the financial system in order to gain hefty profits from home-owners and mortgage investors alike.
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alanzhu
It is the banks fault as they were giving out money that they themselves didn’t have. Risky if loaners could not pay the bank back.
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Karlyn Evans
We agreed it would be both banks and money managers because they were loaning money and giving mortgages to people who were not eligible.
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Kwok Ching Him
Money manager
They have under-estimated risk, They invest in big risk markets like Cash & Spot market. Those require large fund (big loss) -
Karen Ke Wang
Banks
-didn’t check the credibility of clients borrowing
-banks can’t back up their financial commitments
-couldn’t absorb defaults -
xiaorongye'blog
people who lend money should be responsible for it because the lend money blindly. Besides, government gave too much money out.
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Hanqing Zhao
Loan is one of the main way where banks’ revenue come from so I think that banks should not take the main responsibility.
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jacobpawer
Governments borrowed money from other countries who didn’t have the means to pay back their loans and poorly handled the financial crisis
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admin
The government is responsible because they should have had control over the situation and how the banks operated.
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Riley Guttman
The banks should have paid more attention to who they were giving money to, and if the borrowers could be relied upon to pay back loans.
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zeweison
the banks were responsible as they failed to perform relevant checks to ensure that the borrowers had the ability to pay back their debts.
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lucasoutumuro
The banks lending the money to investors are responsible for the most part since they lend money to individuals disregarding the risk.
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admin
It was congress that caused and forced a lot of banks to start handing out mortgages etc. and made the amount of imprudent loans increase.
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Darya Jalali
banks are to blame because they gave too much without realizing who they were giving it to
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namdo
Banks: The source of money, having access to controlling the cash flow
Governments They can print out money, borrow money from other nations -
Jennie Yan
Banks caused it because they lent money to people who did not have the ability to pay it back (only had a house, but not enough income).
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pialim
Banks,because they didn’t look into the backgrounds of their debtors.But some gov’t regulation would have prevented the worst of the fallout
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Clarisa Madilao
The banks gave excessive loans to the applicants, and these borrowers who received the money were unable to pay the sums back.
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rhiannonwademan
The banks are responsible because they give out bad loans and mortgages that they know people can’t pay back, resulting in great losses.
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Kevin Ding
Banks should have did some background checks of the borrowers to make sure that they have the ability to pay the money back.
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amnamasud
Banks – they didn’t regulate who borrowed the money, they wouldn’t be able to pay it back
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Krista Wilson
Banks are responsible because they are suppose to manage the money and they need to know how much money they have and how much coming in.
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Fangxian Guan
Banks fail to investigate into the ability of house buyers to pay the amount (loans) back.
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Jake Black
Governments, they should have been more responsible about the money they borrowed and had a stronger plan to pay it back.
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Priyanka Vasudev
We believe it was the banks fault because they gave out loans to people who could not pay it back with low initial interest rates.
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Gabriel Cheung
We put B) because banks were lending out money that they didn’t have and didn’t consider what would happen if people couldn’t pay them back.
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Huijia Yang
Banks—because they offer to lend people money without carefully choosing people with good credibility.
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