Who should be blamed on the current financial crisis in the U.S.? A nice article from Salvatore Dali:
Based on this article, the blame game is as follows:
30% - Management of Investment Banks & Mortgage Lenders
15% - Alan Greenspan
35% - Ratings Agencies
15% - The Regulators
5% - US Treasury chief Henry Paulson & Federal Reserve chief Ben Bernanke
I think those banks and people who are affected should have known the risk associated with their investments a.k.a. usury-based transactions. Financial market is a place where great fortunes are made, and of course great losses also happen. English people say: No pain, no gain. When an individual losses in the financial market, we say that it is normal that people make money and loss money from it, so no need to help him. But when big banks loss, we quickly say that we need to bail them out. Otherwise the economy will be badly affected. Huh?
Malay translation: Siapa yang patut dipersalahkan atas masalah kegawatan ekonomi yang melanda Amerika Syarikat sekarang ini? Yang botak, yang berjanggut & yang hodoh. Siapa tu? Yang botak ialah Henry Paulson, Setiausaha Perbendaharaan A.S.; yang berjanggut ialah Ben Bernanke, Pengerusi Lembaga Gabenor Bank Pusat A.S.; manakala yang hodoh ialah Alan Greenspan, mantan Pengerusi Lembaga Gabenor Bank Pusat A.S.