Bank’s fault:they should have taken more responsibility on how much money they lent and who they lent the money to.
Updates from Tuesday 29th October, 2013 Toggle Comment Threads | Keyboard Shortcuts
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Jessica Ng
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lindamuhia
The government. Because they borrow huge amounts of money and fail to pay it back putting the country in huge debt.
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Gabriel MacTavish
The banks didn’t do their job because they didn’t credit check ( see if people could pay the loans back) before they gave them out.
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Huang Yu Lin (Alan)
Banks lent money to people who couldn’t pay it back.
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Mikhail Nikolaychuk
The banks were giving the money to the people some of whom could never have paid the debts back to the lenders.
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Alexander Wou
Banks are responsible because they were giving out Sub-Prime Mortgages and were loaning money to people who couldn’t pay it back
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ziluezheng
the bank is to be blamed for the crisis, as they lend money to people who has poor credit. this sub-prime lending cause the crisis.
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ziluezheng
peter chen
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victoriayang
The banks that lent the money – they were too risky, agreeing to let people borrow money that they couldn’t pay off.
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Paul
The banks let people borrow money that was nonexistent. Additionally, the interest rate was very low (enticing people to borrow more).
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Nicholas Everett
Banks – Credit Default Swaps – Bear Stearns. Initial catalyst
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Michael Worthington
Governments are responsible because they put themselves in that situation – if you’re borrowing you need to be able to pay back somehow
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admin
Banks are responsible because they neglected to properly screen those who applied for loans. They gave them out to anyone and everyone.
Alexander Wou 7:24 am on October 29, 2013 Permalink | Log in to Reply
Daniel Shippen, Andrea Ho