Discussion Paper Writing Services - Causes of the 2008 Financial Crisis
The 2008 Financial Crisis acted as an eye-opener for the world that the financial world is not safe and secure and anything can happen the next minute. The most important thing to be noted is that the financial crisis did not occur in a day, but it was a consequence of many connected events. Bill Thomas, Keith Hennessey and Douglas Holtz-Eakin in their article “What Caused the Financial Crisis?” and Steve Denning in his article, “ Lest We Forget: Why we had a Financial Crisis” explain the causes behind the financial crisis. Thomas and his colleagues argue that the cause of the financial crisis was neither the intervention of the government in the housing market nor the Wall Street and the way it influenced Washington. Many have supported that the greedy bankers had a strong impact on the financial system and the politicians (Thomas, Hennessey, & Holtz-Eakin, 2011). The bankers knew the after effects of their greed and purposely continued to take advantage of the mortgage investors and homeowners just for the sake of their selfish gains, and in this overall process they literally endangered the financial system.