i have forwarded a question to one of my lecturer,Dr. Parmindar
about financial crisis.
Yes, its because of greed. It started of with the financial instituitions not being contented with just receiving interests/installments from customers, such as house buyers. These financial insitutions then became greedier and came out with exotic financial derivatives such as CDO etc. Then came out CDS and many large financial players got involved.
Fast forward to the future, many other shareholders (both individuals and institutions) got involved as well. These affected the financial markets, afftected share prices and ultimately affected demand for the layman.
Layoffs occurred and is still occuring..the list goes on. According to UBS, Malaysia will be entering recession by mid June this year.
above is the reply from Dr. Parmindar
if you still dont understand, can ask me directly!
you're most welcomed!
*transferred from another blog of mine
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