[The financial crisis, who is responsible? the government or the banking system? a critical analysis]

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Acknowledgement

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible

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I, [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University

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Abstract

In this study we try to explore the concept of “financial crisis” in a holistic context. The main focus of the research is on “financial crisis” and its relation with “banks and the government”. The research also analyzes many aspects of “financial crisis” and tries to gauge its effect on “economy”. Finally the research describes various factors which are responsible for “financial crisis” and tries to describe the overall effect of “financial crisis” on “economy”

TABLE OF CONTENTS

CHAPTER 1: INTRODUCTION2

CHAPTER 2: LITERATURE REVIEW7

CHAPTER 3: METHODOLOGY13

Research Design13

Literature Search13

CHAPTER 4: DISCUSSION AND ANALYSIS14

CHAPTER: 5: CONCLUSIONS19

REFENCES24

CHAPTER 1: INTRODUCTION

Who is responsible for the financial crisis? The question repeatedly since the subprime crisis of autumn 2008 has varied diagnoses based on a shared idea: the financial excesses and deregulation have rotted the actual course of the economy. One view was defended before the crash the great American sociologist Michael Walzer in the social science journal which reissued editions of The Herne texts visionary on the issue of the capitalist system. Beyond the mechanics of the crisis disputed by economists lucid, Walzer vice anthropological digs in the heart of all: greed. It's greed, the pursuit of maximum profit, transformed into a dogma, which led the economy to develop the injustices and inequalities. To better understand the current frenzy of finance, it is advisable to read the trial judge's teeming Jean Maillard, specialist economic crime, The author lists the techniques invented by the financial sphere, without any safeguards, beyond the law. Innovation miracle was in the 2000s, securitization, authorizing the transfer of financial assets to investors. The offshore centers, a key element of the financial markets, have allowed banks to evade the rules and put their assets "off balance sheet". Stock markets, Wall Street head, have flooded the banking world of sophisticated products, feeding a new crime up until the end of his predatory skills.

"The worse the economy, the better the finances," suggests the author: by creating money without economic foundation (the credit-dollar) unbridled markets have created value worthless.

Fraud is very "now become a variable adjustment of the economy and finance, sometimes even a way of managing them". (Banerjee, 1992, 797)

Despite public commitments by governments to change the rules of the game, or almost nothing has changed: all states have given their freedom "to the craftsmen of financial plunder of the planet" and renounced their enrichments contain fools. Time predators will continue as the financial bubble will not be purged of its ...