fix articles 427967, system risks
The Financial Crisis and the Failure of the Modern Economy (tags)
The US government debt shot up from 2.9% in 2007 to 5.9% in 2008 and 11.9% in 2009. At the summits of Washington, London and Pittsburg, the goat was made the gardener. Ineffective rules were resolved that hardly helped regulate the financial markets.
Financial Crisis as Organized Irresponsibility (tags)
In the years 2002-2006, guaranteeing mortgage credits was the greatest source of profit for investment banks. US policy massively promoted and in no way curbed awarding dubious credits. In 2003 Warren Buffett described derivatives as "financial weapons of mass destruction."