WHo and what caused the global financial crisis?

Who and what sparked it? Who and what is to blame? Who and what is d forerunner of this problem? pls keep ur comments simple, responsible.WHo and what caused the global financial crisis?All of us human beings are the cause of the crisis, but we are not to be blamed.

We are born with selfish and egoistic basic qualities.

And these qualities have been progressing through our evolution, and reached maximum potential by now. Look around you, people are isolating themselves even from their own families if they can get more pleasures, and less pain. We only want to use and exploit the others for self benefit. These are our given qualities so it is not our fault, but we have to recognize these qualities and accept that they are the cause of all the negative scenarios we see in the world today.

The financial crisis is only one of them.

Why has it appeared now, and why are the other problems growing these days too?

Because on the other hand we reached the state where humanity is truly global. We are totally interconnected and interdependent. We are like one big family. And this is new to our generation.

And our inherent nature, and this closed global system cannot function together, as with our present behavior we are constantly harming and slowly destroying the system, the world.

The good news is that we can also change it, and build a better, safer future.

But it all starts with recognizing our complete responsibilities.

Here is a short article on globalization:

http://www.kabtoday.com/epaper_eng/conte鈥?/a>

And here is a short video you might also find helpful:

http://www.youtube.com/watch?v=g94iWT2SI鈥?/a>

I hope it helps, all the best.WHo and what caused the global financial crisis?
The corruption of our banking and finance system from top to bottom is what caused this economic crisis. The people on this list are who allowed scum like Bernie Madoff and others to steal for years. Each and every one of these people should be called before a special grand jury and questioned in detail and indicted:



(R) George W. Bush --President

(R) Chris Cox; Chair--Securities and Exchange Commission (SEC)

(R) Henry Paulson; Secretary of the Treasury

(D) Barney Frank; Chair--House Finance Committee

(D) Chris Dodd; Chair--Senate Banking Committee

(D) Chuck Schumer; Heads Joint Economic Committee

(D) Richard Syron; CEO--Freddie Mac.

(D) Frank Raines; CEO--Fanny Mae

(D) Charlie Rangel; Chair--Ways and Means Committee (W%26amp;MC)

(D) Pete Stark; Chair--W%26amp;MC subcommittee on Health

(D) Sandra Levin; Chair--W%26amp;MC subcommittee on Oversight

(D) Michael McNulty; Chair--W%26amp;MC subcommittee on Social Security

(D) Jim McDermott; Chair--W%26amp;MC subcommittee on Income Security and Support

(D) Richard Neal; Chair--W%26amp;MC subcommittee on Selected Revenue Measures



As you can see, this corruption crosses political party lines.WHo and what caused the global financial crisis?You're going to get a lot of people saying George Bush, but I assure that is not the case.



There is no single factor that lead the economy to fall in on itself. It was all a perfect storm.



Gas prices going up, inflation, loans going to people who can't afford them...



Though, the gas prices contributed to the collapse of the housing mark. Since the housing market is such a big part of our economy and financial system, that was a HUGE factor in the crisis.
There's plenty of blame to go around. But the seed was in 1981 when Congress passed legislation that overturned all states anti usury laws and replaced them with nothing. In the same year, they passed legislation that eliminated some of the very same regulations that were designed to prevent the great depression from happening again.



Thus, there was no such thing as a sub prime loan until anti usury laws were abolished. All else followed from there.WHo and what caused the global financial crisis?You can't respond with a simple response on this question, it is far too complicated.

Each side will blame the other as they have since this all started.



To answer in a very simplistic way, the cause is GREED. GREED is at the route of all of it and although it takes many shapes and forms, it is the common denominator in my opinion.WHo and what caused the global financial crisis?
Democrats in the US did it, maybe even deliberately.



Democrats have caused our current economic problems, by

1. Destroying the root of our economy by obstructing access to any economical fuel sources including oil, natural gas, nuclear energy, hydro electric, clean coal and anything else that could sustain a healthy economy. Fuel is the very core of our economy and they crushed it.



2. The democrats deliberately pushed the core of the credit crisis, and ignored warnings that things were being done by Freddy Mac and Fannie Mae that would be very harmful to our economy, by the Bush administration, and even John McCain. The democrats buddies in Freddy Mac and Fannie May (powerful advisers in the Obama campaign and huge democrat contributors to Obama, Frank, Dodd, Waters, and Reid among other democrats started out on a dangerous course, lied to investors about the status of the investment, and caused the credit crisis and the bringing down of banks and insurance companies because of those investments becoming worthless as collateral, making those institutions illiquid and thus unable to legally do business ... this sent a chill through all lending institutions and froze up credit which has lead to this disaster in the economy ... accomplished by democrats with a few idiot republicans help. The worst thing any republican ever did in the last 8 years, even 16, was to go along with democrats and try to work with them. They are the bane of the US economy, and it was caused by their lust for power and their greed ... as well as the accomplice of the liberal media and entertainment industry in this country working to push their lies and deceptions on the people of the US, and even the rest of the world.



Fuel being so high was the catalyst that caused the problems with the mortgage backed securities to come out like they did, and this destroyed the backbone of commerce and industry in the US and weighed so heavy on the world that the rest of the world could not bear the weight.



I also think China was deliberately driving up fuel prices and pushing things to a head, maybe working with some US politicians like the Clintons to make this happen, so things would be ripe for Hilary's presidential bid. This kind of thing is classic Clinton, if you really know how the man has worked in the past to get what he wanted. His mob exploits are long and detailed, and he thinks very big of course, afraid of nothing and knowing no limits.



This whole thing has effected the entire world, and it all goes back to what democrats have been pushing for decades. The press has been with them. The press is actually THE power, as they inform the voting public, or in the last decades they deliberately misinform the public to help the democrats gain power.
Here's the answer in it's total simplicity: Everybody. Many will point fingers at the government, a rather fair attack. This govt. has spent money it doesn't have on wars and pork. Their lack of oversight on Wall Street gave businesses the ability to be predators. Bad business practice, such as the lending of bad loans and mortgages, were the cause of the burst in the housing bubble. But people, who say, made $70,000 a year, wanted to buy homes they simply couldn't afford: let's say $300,000. Our hunger to be better than everyone else has ironically taken us to the worst economic position we've had in a very long time. So, again, in short, it's everybody's fault.WHo and what caused the global financial crisis?
Basically, the process of deregulation of banking and Wall Street that began under Ronald Reagan, and the failure of the Bush Administration to take strong action when things started to unravel.
wall street and the bush administration who failed to get things back in order. remember when the us economy has problems the world economy has problems.
Perhaps it was the war in Iraq
Neoconservative geeks who wanted to rule the rule = PNAC
Hubris.
Honestly it doesn't matter

instead of pointing fingers we need to be fixin the prob