banks should be blamed, they didn’t make judgment about who can pay back.
Updates from Tuesday 29th October, 2013 Toggle Comment Threads | Keyboard Shortcuts
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Tianchang Ning
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connorwilson1
It’s the government’s fault because they didn’t put proper restrictions on loan practises
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Lisa
Banks provided loans without having assured that the people could actually return the money.
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Yuna Wang
banks lent money irresponsibly to riskier people for a higher return rate, but lost the money when people couldn’t pay it back
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oliviakrieger
Banks,they were more focused on the quantity of loans being given out rather than the quality. they didn’t check if people could pay back
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corinabizim
banks are at fault because there was little regulation of who received loans. interested in quick gains, didn’t think of getting paid back
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Heayoung (Chelsea) Ha
It is the banks fault because the bank created too much money
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michellewong95
Lent money to people who couldn’t pay it back. Risk not evaluated.
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vickychen
It was mainly the banks’ fault: Many private banks and state banks lend out money to people who did not have financial ability to pay back.
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harrysonhu
It was the bank’s fault because they were giving out loans too easily and to people that could not repay the loans
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harleenmanihani
The banks are to blame for the financial crisis because they lent out money knowing that the people may not be able to pay it back.
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nataliehayworth
It is the fault of the banks due to the lack of forecasting conducted.
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nikitap
The financial crisis can be blamed on the banks who irresponsibly lent out mortgages to those who had poor credit histories.
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matthewanderson
Sub-prime mortgages were issued by banks, who knew the individuals would not be able to pay back the loans.
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Amaury Dorin-Blanchard
Answer: Banks giving out too much money
The banks are at fault as they gave away too many loans to people who could not pay them back. -
lizzy
The Bank’s fault because they held onto billions in C-D swaps, gave ludicrous amortization periods and loaned money irresponsibly
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Alexandra Dye
We chose the banks because the banks were giving mortgages to individuals who did not have the ability to make payments.
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jasonw
The bank were at fault as they approved loans without any background checks or downpayment, making mortgage default easy.
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clarencelam
The banks gave money out to people who couldn’t afford to pay back the loans
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Khaled Shawwash
The banks were uncontrolled in terms of how much money they lent. They didn’t realize that most people would be unable to repay the loan.
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zheranxie
The banked payed the money to the politicians to pass the law so that the bank could lend money to the people who cannot pay it back.
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kajornyodklaimanee
Banks lowered interest rates so much that too many people were borrowing/spending money they did not have and could not pay back.
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ziyuehandennie
Banks loan money to everyone, they don’t care whether or not people are able to pay it back
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zhongxian(James)luo
Bank’s fault. Lending money to people who does not have stable income and ability to pay back, and good credit history/reputation.
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loganlan
The banks are at fault because they gave out loans to people who obviously or most likely were not able to pay them off.
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