banks fault for reckless lending
Updates from October, 2013 Toggle Comment Threads | Keyboard Shortcuts
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Taylor Tam
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Aylin Senem Piskin
Governments are responsible for the crisis because of the market interventions and regulations.
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Eric Cho
The government could have bailed out the Lehman Brothers but decided not to, to show banks the consequences, creating a frozen market
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alexischow
People who borrowed from banks to invest in housing and speculate in financial markets caused banks to create more money, pushing prices up
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Caitlin Lim
Bankers are to blame because they are responsible for distributing money even when the people had little reliability to pay back the loans
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Maddie Ladner
It is the fault of the people who borrowed money from the bank. They should have been able to pay it back, otherwise not borrow money at all
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Xinyue (angela) Li
Banks are the ones to blame because they sometimes lend money to people who don’t have the ability to pay them back.
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Emilie Gibeau
Banks were over lending to people who were not able to pay back their loans. Although, banks are not solely responsible.
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Cole Christiansen
The banks are at fault for handing out easy loans with minimal screening. Especially if people go out and invest in unproductive goods.
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Gabriel MacTavish
The banks were not doing their job of credit checking people( making sure they could pay the loans back) before they gave them out.
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Clement Hue Yat Kong
Banks are responsible due to their reckless actions in lending money randomly leading to huge losses in lower-rated mortgage-securities.
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AshleyKristen
The banks are responsible because they did not make sure the borrowers were able to pay them back.
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tinatsai
Banks are responsible because they gave money to people that couldn’t pay it back
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yuri0104
Government should have controlled monetary excess.
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Danielle Lim
Government is responsible b/c they didnt have the proper fiscal policies in place and put themselves in debt by borrowing large sums of $$
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Jiacheng Shen
bank are responsible because they did not regulate that who is able to pay back the money who can not
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Yiyin Zhang
The banks are absolutely responsible for it because they should guarantee or forecast that the money they lend can be paid back.
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zhujunye
Banks are responsible because banks lend money to people with low credibility, causing high risk to get the money back.
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Phebe Kwok
The people who borrowed money should be blamed–they are expected to pay it back one way or another to keep the cashflow and economy going
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ioannissakarellos
Banks being irresponsible they were lending money without guaranteeing if the borrowers were able to pay back and not fall on their debt
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Xinyue (angela) Li
Banks are the ones to blame because they sometimes lend money to people who don’t have the ability to pay them back.
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Xinyue (angela) Li
Banks are the ones to blame because they sometimes lend money to people who don’t have the ability to pay them back.
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Matt Gwin
The Gov’ts are responsible because they did not put regulations in place to prevent sub-prime mortgage rates; ended up hurting themselves
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Adrianna
The bank is the place where people can get the money from the future and thus too much money flows in the market
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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)
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