What do u know about recent global crisis?
Its an interesting subject to discuss. The whole world crashed just because of 'subprime' thing. How could???!!!!
The super power country, United State of America should recognize about how got greedy they were in this last century. They forgot how important is lending criteria. They were too confidence to give a subprime credit, giving credits to peoples that can't pay it, and also with super high interest rate. They think foreclosuring borrowers house could give them a good profit....but it couldn't.
Then, the whole investor in the world think that subprime market is good investment instrument. But they were wrong. They forgoting something important in doing investment. What is it? It is PORTFOLIO.
Do u remember about, "Dont put your eggs in one basket"? That was the whole investors forgotten when they investing in subprime market. Now.....the basket has broken. So, those eggs were smashed........
I won't talking about this deeper because this just a blog, not a finance journal. But there's I'd like to tell to US people.....
Be wise......
don't be greedy......
god is more powerful than u are......
you have to be consistent to your own word (economic system)....!!!
>_<>
let's find a wise solution about this crisis.....
