The Global Financial Crisis. History & Context. 1990s – rapid expansion Unsustainable levels of gearing Benign economic conditions & policies favoring low and long-term interest rates Financial Innovation Increased investors participating in the global market. Credit Crunch.
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House of Cards - Lenders
http://www.bing.com/videos/watch/video/newshour-w-jim-lehrer-solman-s-domino-effect-pt-1-pbs/3248967E3C2B040EE01B3248967E3C2B040EE01B - Dominos
GB Money Bubble
Bailouts – Government money to banks:
Buying “troubled assets”
Stimulus – Government money to people
and businesses to increase spending
National Protectionism – Tariffs and Subsidies
– Capital available to IMF increased
– EU and US cooperation