Whats this global financial crisis about? Simplfy, keep it simple please.

[char_jig_kar]

Can someone please tell whats this global financial crisis about? Simplified version. No need chim words.

What leads to what? Why is it a crisis? Si mi crisis? Ang juar si crisis? Who no money? Why USA seems to be the culprit? Etc Etc.

Please kindly share, thank you.

 

[VIBGYOR]

Can someone please tell whats this global financial crisis about? Simplified version. No need chim words.

What leads to what? Why is it a crisis? Si mi crisis? Ang juar si crisis? Who no money? Why USA seems to be the culprit? Etc Etc.

Please kindly share, thank you.

One Simple Word....GREED!!

 

[char_jig_kar]

Thanx. But your answer way too simplified.

Anyway, I think I had found the answer here at wikipedia:

http://en.wikipedia.org/wiki/Global_financial_crisis_of_2008

 

[VIBGYOR]

wholly shit, you want a simple word reply and you ended up giving me the entire wiki on the financial bullshits?

 

[char_jig_kar]

Just the word greed cant tell us much about the event. Just like... if I am gonna ask someone to tell me about Monica Lewinsky and Clinton's affair, if someone give me the answer, "lust and desire" that doesn't tell me much isn't it?

 

[manx007]

Our kar ching are jig by USA or you can say USA jig the world kar ching

 

[Perspective]

Can someone please tell whats this global financial crisis about? Simplified version. No need chim words.

What leads to what? Why is it a crisis? Si mi crisis? Ang juar si crisis? Who no money? Why USA seems to be the culprit? Etc Etc.

Please kindly share, thank you.

To me, it is 1 word - stubbornness.

People were talking about credit crunch years ago. I guess it is tough to get large, established institutions to change their ways.

 

[batman1]

Culture of greed -->financial crisis.

 

[jw5]

Can someone please tell whats this global financial crisis about? Simplified version. No need chim words.

What leads to what? Why is it a crisis? Si mi crisis? Ang juar si crisis? Who no money? Why USA seems to be the culprit? Etc Etc.

Please kindly share, thank you.

Greedy Bastards

 

[zhihau]

Greedy Bastards

plus a bunch of morons who'd gladly buy up those dodgy products

 

[Devil Within]

Can someone please tell whats this global financial crisis about? Simplified version. No need chim words.

What leads to what? Why is it a crisis? Si mi crisis? Ang juar si crisis? Who no money? Why USA seems to be the culprit? Etc Etc.

Please kindly share, thank you.

Very simple. Private central banks of US Federal Reserve flooded the whole world with counterfeit US money.

 

[char_jig_kar]

Wonderful. Concise, and yet, informative. Thats what I am looking for.

 

[Satan]

Another way to put it is that the whole world is fucked.

 

[madmansg]

it is like CPF , money go in but never come out.

 

[ahbengsong]

seriously... yet to see one simple description of the current financial crisis... anyone can do it with less than 30 words ???

 

[STUCK_HERE]

Can someone please tell whats this global financial crisis about? Simplified version. No need chim words.

What leads to what? Why is it a crisis? Si mi crisis? Ang juar si crisis? Who no money? Why USA seems to be the culprit? Etc Etc.

Please kindly share, thank you.

1. Every country place the highest value on the banking and finance industry. Giving the bankers big bucks and treating them like the most clever people on earth.
2. Actually, the bankers are the most greedy and evil people. They gamble the money of the innocent investors.
3. Now, all the banks are losing lots of money because their gamble shit up. The banks lose confidence in one another.
4. This affect all other industries.

 

[red amoeba]

1. Every country place the highest value on the banking and finance industry. Giving the bankers big bucks and treating them like the most clever people on earth.
2. Actually, the bankers are the most greedy and evil people. They gamble the money of the innocent investors.
3. Now, all the banks are losing lots of money because their gamble shit up. The banks lose confidence in one another.
4. This affect all other industries.

----
Imagine US being the guy that goes fucking around and the rest of world have to bear the shit of their screwing....the pregnant girls. Thats what the whole world is doing.

US banks loan out money like nobody's business, profiteering those fat cat bankers and when all these loans suddenly collapse, it affects the whole world. And banks who loan to banks like no body's business are all affected.

 

[zhihau]

seriously... yet to see one simple description of the current financial crisis... anyone can do it with less than 30 words ???

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only seen John Bird and John Fortune summarizing it in about 8mins

 

[char_jig_kar]

nah, 3 minutes into the show still didn't tell us much.

 

[War Criminal]

SIMPLE STORY

US interest rates low after 9/11 - More US citizens borrow $ to buy property even people with poor borrowing rating (higher chance of defaulting ie. less than prime borrowers = sub-prime) - US property price rise

US property price rise - Investment banks and firms all jump onto this attractive market selling US property related investment products

US interest rates start to rise + Overheating of US property market + Faulty investment products (ie. Product A can be insuring ten US homes from default, then got Product B insuring Product A from default, and on and on) + Poor regulation of US property market

= US housing bubble burst! = Sub-prime crisis

Sub-prime crisis- firms which invested heavily in sub-prime all lose heavily (Lehman, Merrill, Goldman, AIG, etc. etc) - Stock market becomes fearful - Stock markets crash

= Financial crisis