Q3. Consider the claim that it was a “bad” management and leadership of employees within the banking sector, which led to the financial crisis in 2008.
Ans: The financial crisis of 2008 or the global financial crisis id identified as a collapse of banking sector and eventually the “bad” management and leadership of employees within the banking sector. It is important to note here that the vision of the banking institution leadership to invest in real estate for its economic growth and relaxation of norms by the banking management to give high risk loans to individuals/organization, who are already into real estate business, has been the major cause of 2008 financial crisis. The money created by loans was again invested by banks in real estate. Ultimately, real estate prices rose sky-high along with the levels of personal debt but income stayed normal forcing people to stop loan repayment. Properties flooded the market bring the real estate value and market crashed with banks itself facing bankruptcy.
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