Banks are to blame because they lent money that they didn’t have in the first place. Everyone else also has responsibility
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zhaopeng
Bank: should evaluate the borrowers’ ability to return the money.
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Yash Multani
The banks started lending money to people they knew would not be able to pay it back.
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charlespan
Banks lends out money without security to pay it back.
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Teodor Karov
The crisis was caused by the banks, who attracted potential users with lowered interest rates, and offered loans to people with poor credit
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Matt Harnett
The banks provide low interest rates to the consumers and then they are stuck with loans they can’t pay off.
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turato
Banks loaned out money to (low-income) people who wanted to buy houses without properly screening them and then sold the mortgages to firms
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shomasmah
banks fault- They were loaning money to everyone, and the loans were not paid back.
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georgeguo
Banks are the ones to blame because they didn’t realize the risks behind lending money to people already in debt.
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avijitsingh
It happened partly because derivatives exploded uncontrollably, congress allowed people to give mortgages to those who were not doing well
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Zi Hang Lei (Jeffrey)
Excessive borrowing due to low interest rate, and borrowers can’t pay back. #blameeverythingtogovernmentandbanks
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alisonchan16
Banks – allowed more people to borrow money at lower credit rates – more people borrowing = more debt
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Ka In Kou (Katherine)
The banks did not carefully evaluate the borrowers’ abilities of returning the debts in the future
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alexbutler
It is the banks’ fault for lending money to people they knew wouldn’t be able to pay it back in a reasonable time.
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julianheaney
I don’t think 1 party is to blame, that responsibility lies with a combination of groups but the US Gov needed more strict regulations
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cicisong
Bank
1. didn’t make sure that the borrowers are able to return back
2. interest too high to afford -
geniechang
bank because they lent money knowing the high risk (they just wanted high interest)
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garyyu
Banks are at fault. They can refuse to give risky loans, but approve loans regardless as they want that high interest return out of greed.
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tamarbatrawi
Banks are to blame (NOT ACCOUNTANTS – WE LOVE THEM) because they are giving out bad loans, and betting on other companies to go bankrupt.
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Spainie
The banks are to blame cuz they didn’t check the people’s ability to pay back before approving the loan.
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nicholasgilmore
It is the fault of the banks because the system used encouraged irresponsible loan approvals because it benefitted the worker financially.
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harnoorgill
B. Banks fault, since they need to evaluate the person’s ability to pay back the loan before lending them money
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baileybecker
Banks – they made irresponsible business decisions lending money to people who they knew may not be able to pay it back
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weichengli
Everyone is to blame. #sharedblame
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amyqiu
investors failed to accurately predict the risk involved
people also gambled money that they didn’t have -
nicolatighe
It is the banks fault because if the banks know that their clients are unable to pay their loans, then they shouldn’t be lending out money.
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Shuting Lin
Bank should evaluate borrowers better
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Ali Jatoi
Investment Banks, including Lehman Brothers, Morgan Stanley etc… they sold faulty CDO’s.
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juliejeehyepark
bank- approved all the loans without looking at others ability to pay back to earn money
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