PPRuNe Forums - View Single Post - Growing evidence that the downturn is upon us....
Old 4th Feb 2008, 08:30
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kwachon
 
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I beg to differ, the problem does not solely lie with the US and the Dollar. It was not the US that told the European financial institutions to buy into hedge funds!, lets get real here, they wanted to make some quick money by doing as little as possible, had some of these institutions done their homework, they would have seen the downturn in the US housing market and increase in foreclosures almost 12 months ago and surely when Bush changed the bankruptcy regulations, did nobody ask why he did that?, hint, they were on the rise!
The root cause of most of this is nothing short of greed and some of the institutions have now got their fingers burnt.
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