Tuesday, March 25, 2008

Who’s really to blame for the financial crisis?

Who's really to blame for the financial crisis?

"...banks created an environment in which it was all too easy to overstretch yourself – and if you stayed on the sidelines and saved, you looked like an idiot, and a whole lot poorer than your property-rich compatriots... But who was behind the banks? The truth is that this whole thing comes back to central banks. The world’s key interest rates were set too low for too long..."

Posted by damien @ 10:57 AM (569 views)
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2 thoughts on “Who’s really to blame for the financial crisis?

  • A British banker says ‘don’t blame British banks for what is a global situation’. An American banker could say ‘don’t blame American banks……’ . A German banker could say ‘don’t blame German banks……’. So nobody’s to blame. Or maybe the British banker’s comment is code for ‘it’s America’s fault’.

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  • Landedgentry says:

    …. and to some extent the “now” culture.

    If you afford it then no problem.

    But if you can’t ask yourself whether you really need the latest ipod, nokia T-7890789078746767785 plastic crap made in china?

    Read some books and search your soul people !

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