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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Yan Gao(Helena)
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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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admin
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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Jessica Ng
Bank’s fault:they should have taken more responsibility on how much money they lent and who they lent the money to.
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