Tuesday, January 27, 2009

The Guardian called the perpetrators of the global economic crisis.

The British newspaper The Guardian published an article that identified the names of politicians, economists and financiers, the perpetrators of the global financial crisis.
First on the list of The Guardian was the former head of the Federal Reserve System (FRS), the U.S. and one of the world's most famous economist, Alan Greenspan. Previously, not only a British newspaper, but many of the world's media noted that it is the policy of the Fed contributed to the bubble in U.S. real estate market and the subsequent crisis in the housing market, which later developed into a global crisis. Recall the fall of last year, Greenspan admitted that he underestimated the magnitude of the crisis and made a mistake, considering that banks are able to cope with it.
According to the publication responsible for the development of the crisis is also a former U.S. President Bill Clinton and George Bush. Clinton, establish the separation of commercial banks, storage deposits, and investment who invested, including in vysokoriskovye mortgage securities. That investment banks affected by the crisis in the first place. In September 2008, the last two independent investment bank, Goldman Sachs and Morgan Stanley, changed status to bank holding companies in order to confront the crisis. When Bush, said the newspaper, the issuance of mortgage loans to borrowers neblagonadezhnym "do not have any income, no work," peaked.
Among those responsible for the crisis razrastanii The Guardian also called British Prime Minister Gordon Brown, Prime Minister of Iceland, Geir Haarde (Geir Haarde), as well as former heads of the major insurance and credit institutions. On the list were, for example, the former director general of the biggest U.S. insurer AIG, Maurice Greenberg (Maurice Greenberg), former head of the nationalized British bank Northern Rock Adam Epplgart (Adam Applegarth), as well as former heads of organizations of the U.S. credit crisis - James Kane ( Jimmy Cayne) from Bear Stearns and Stan O'Neill (Stan O'Neal) from Merrill Lynch.
The crisis that began in the U.S., raised the economies of many developed countries. According to the International Monetary Fund, the losses and write-off of funds around the world during the crisis could reach 1.4 trillion dollars.

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