• April 3rd, 2016

UK Financial Crisis (2007)

Paper, Order, or Assignment Requirements
The Question
Explain why some banks in the UK have failed and discuss weather a failing bank should be allowed to fail or be saved. How might a similar financial crisis be avoided in the future? Does effective bank regulation require greater cooperation between sovereign states?

Problem Statement.

The financial crisis that started in 2007 was precipitated by the banks, causing some failing banks to be bailed out by the state. A related issue has been the debate over weather bankers should be paid their bonuses in the current climate and the moral and ethical issues that arise from this from society’s point of view. The government, which represents the people, has to weigh up their interests and the interests of the industry which employs a large number of people. The crisis has raised the question of weather there is a need for tighter regulation of the banking system. A major dificulty is that banking in the 21st century is a globalised industry, any action by one state may have international and unintended consequences.

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