Financial crisis…are you kidding me!

As a result of the recent financial crisis banks have become more strict with their ‘money management’ and they don’t want to make the simple mistake again by lending to people with low-credit ratings…much of which had triggered the ‘sub-prime crisis’.

But hang on a minute, by doing this the banks are actually excluding the masses, the people who really need credit from the banking and financial system and thus making a mockery of the idea of ‘financial inclusion’ which happens to be the mantra of most new-age banks.

So what actually started due to the greed of the financial giants has been blamed on the sub-prime borrowers. The bad guys here got the loans in the market faster than they should have and then sold them off to unsuspecting MBS (mortgage backed security) buyers and made a clean exit. Now, the real sufferers of this crisis is the original buyer and the retail investor at the end of the chain of the MBS.

The rich guys baited the poor with cheap credit and wrenched their nerves till they bleed them dry and then blamed them for not having enough to pay off their ever mounting debts. This is robbery and it is still going on…

Praying for Peace…

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Categories: Ideas

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