There has been an ongoing debate amongst corporate tycoons as well as the society on the cause of 2008 financial meltdown. Some say that it was caused by the “unreliable” investment banking firms, some say it was because of the foreigners, and some say that it was caused by the individuals who could not return the money that they borrowed from those banks.
Everyone has the right to argue with each other. The 2008 financial meltdown did not only affect the Americans, but the affect was or maybe is globally. In America, billions of jobs have been gone “down the drain” due to this devastating occurrence.
“Chapter 11”, a term that indicates bankruptcy, has been filed by several major companies such as Lehman Brothers, Merryl Linch, and Goldman Sachs. Those three financial institution has gone busted probably due to the greed that people nowadays have. They want to have everything, but paying everything as the least they can do.
Now the world has been trying to get on its original track, waking up from a very devastating nightmare. How you might say? The answers, we should leave it up to those who are in the financial institution sector. As part of the society, the only thing we can do is not making the same mistake that we did.
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