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Essay / Research Paper Abstract
A 13 page paper. This essay reports and discusses what many analysts have said caused the crisis. Some present a historical overview, which provides more insight into the current situation. Federal policies and mandates were catalysts for the housing bubble and even sub-prime loans. The paper also comments on the role of ethics in this crisis. Bibliography lists 6 sources.
Page Count:
15 pages (~225 words per page)
File: MM12_PGbnkcl9.rtf
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Unformatted sample text from the term paper:
on history, the causes of this global financial crisis, which began in the United States, will be debated for decades. There are certain things we know and no doubt, a
lot we do not know. Many analysts have offered a historical perspective, which is the most comprehensive method to try to identify the reasons for the bank system failing.
This essay will report and discuss what many analysts have said caused the crisis. Some present a historical overview, which provides more insight into the current situation. The paper also
comments on the role of ethics in this crisis. Causes of American Bank System Collapse The real cause of the current financial crisis is sheer greed. It was
a willingness among executives to do anything, no matter how unethical, to increase profits and their own bonuses. It goes deeper than that, though. What many Americans may not be
aware of is that federal agencies demanded that banks and mortgage companies sell more houses to low-income and moderate-income citizens, regardless of whether or not they could pay the mortgage.
That is a lack of ethics and good judgment on the part of those federal representatives. Some of that has to do with the American Ideal, which is to own
ones home. The reality is that not every individual earns enough to buy a home. Just as the root causes of the Crash of 1929 and Great Depression, which
lasted until the late 1930s, are still being debated, the causes of this global recession will be debated for decades. We can say that the collapse of the housing market
was the catalyst for the collapse of the bank system. Any systemic failure, however, has multiple causes that began years before the banks failed. Sachs (2008) explained the cause
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