Economic crisis 2008
700 mots
3 pages
Financial Crisis____________________________________________________________
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Since the end of the Second World War, America became the decision maker of the world, on the financial level, military, political, cultural and economic. The Marshall plan in 1947 shows the degree of membership of the countries of Western Europe to this economic giant, then in 1949 with NATO (North Atlantic Treaty Organization), on the military level. Moreover English is the international language and liberalism is exported in more and more expending countries.
The supremacy of the USA on the world confers a decision-making power to them and unfortunately, when the USA coughs, the world gets flu.
I°) The international crisis, because of the USA?
2006, more and more from houses in the United States and more precisely in California are sold because of the very low interest rates which are allotted to many American seeking a good at this period. Unfortunately, that involves a fall of the real values. The interest rates were variable they reach quickly in 2006 in unexpected values of those who had been involved in debt.
Gradually the market of banks networks weakened to arrive in 2007 to the crisis of one of the most important banks of the United States, the Lehman Brothers bank. After tried to save without success its real estates, the court of the actions of the bank falls of 90%. The Lehman Brothers gone bankrupt the 15th of September of 2008. All banks of the United States are touched, they lost the trust they had between eachother, and that is going to touch banks of the world pretty soon, and that happened.
II°) The economy of the world is touched.
Banks are a network, they give money to eachother everytime because they trust. But because of the subprime crisis, they stopped to give money to eachother to try to recover the money they lost in. Lehman Brothers stopped its activities because no one bought it as quickly as they imagined. Now, the money