Essay about The For The Financial Crisis
To begin with, I was shocked that there was a belief in ever-rising house prices and that so many subprime mortgages were given out to people without the suitable amount of income. It seems as if more people should have seen that the housing bubble was going to burst, and on top of that, the fact that there were so many bad practices of subprime mortgages that continued without any regulation is something I think more Americans should hear about and recognize.
Although I don’t think I’ll ever have a full grasp on it, the complexity in which the financial market runs was shocking to me. There are so many levels of securities and risks within the system. I have to wonder if any institution or person really has a true understanding of all the complexities. Without a simple system, it seems there will never be appropriate regulation to prevent another crisis happening again.
Furthermore, some other appalling…