bankruptcy current events
What is the reason for it? How you can explain this events?
over the last several months the world financial system has been in a state of great turmoil. dozens of banks-including some of leading financial institutions-have been forced to declare bankruptcy.Hundreds of billions of dollars worth of asset have been rendered worthless e events of lst few months have forced many national governments and regulatory authorities to rethink the method they had utilized to regulate the financial markets and institutions.While the solutions to the current crisis are far from being certain,its underlying causes are becoming apparent.
main reason is done to loans and credits. nothing is actually being bought with cash. everyone is in credit cards debt and have mortages. people cant pay their mortages so banks that loaned those out have to go out of business because they have no actual cash. they make credit cards so easy to get so everyone have like 5. they need to change the loaning system and credit cards system. quit mailing everyone a credit card once they turn 18
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On the Brink: Inside the Race to Stop the Collapse of the Global Financial System $2.07 New Hardcover with dust jacket… |
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