Analysis from the Present Fiscal Disaster in addition to the Banking Industry

The recent economic crisis commenced as section in the world-wide liquidity crunch that transpired relating to 2007 and 2008. It’s always believed that the crisis experienced been precipitated through the wide-ranging panic created through economical asset providing coupled having a considerable deleveraging during the personal institutions on the primary economies (Merrouche & Nier’, 2010). The collapse and exit with the Lehman brothers a multi-national bank in September 2008 coupled with significant losses reported by key banking institutions in Europe additionally, the United States has been associated with the worldwide money disaster. This paper will seeks to analyze how the global monetary disaster came to be and its relation with the banking industry.

Causes from the economical Crisis

The occurrence from the global personal disaster is said to have experienced multiple causes with the main contributors being the financial institutions as well as the central regulating authorities. The booming credit markets and increased appetite of risk coupled with lower interest rates that experienced been experienced inside the years prior to the economical disaster increased the attractiveness of obtaining higher leverage amongst investors. The low interest rates attracted most investors and economical establishments from Europe into the American mortgage market where excessive and irrational risk taking took hold.

The risky mortgages were passed on to finance engineers around the big personal establishments who in-turn pooled them together to back less risky securities in form of collateralized debt obligations (Warwick & Stoeckel, 2009). The assumption was that the property rates in America would rise in future. However, the nationwide slump with the American property market in late 2006 meant that most of these collateralized debt obligations were worthless in terms of sourcing paper writers short-term funding and as such most banks were in danger of going bankrupt. The net effect was that most of the banking establishments experienced to reduce their lending into the property markets. The decline in lending caused a decline of prices within the property market and as such most borrowers who experienced speculated on future rise in prices experienced to sell off their assets to repay the loans an aspect that resulted into a bubble burst. The banking establishments panicked when this occurred which necessitated further reduction in their lending thus causing a downward spiral that resulted to the worldwide economic recession. The complacency by the central banks in terms of regulating the level of risk taking within the economic markets contributed significantly to the disaster. Research by Merrouche and Nier (2010) suggest the low policy rates experienced globally prior to the crisis stimulated the build-up of financial imbalances which led to an economic recession. In addition to this, the failure with the central banks to caution against the declining interest rates by lowering the maximum loan to value ratios for the mortgages banking institution’s offered contributed to the personal disaster.

Conclusion

The far reaching effects that the fiscal disaster caused to the global economy especially while in the banking field after the Lehman brothers bank filed for bankruptcy means that a comprehensive overhaul of the international monetary markets in terms of its mortgage and securities orientation need to be instituted to avert any future financial disaster. In addition to this, the central bank regulators should enforce strict regulations and policies that control lending in the banking market place which would cushion against economic recessions caused by rising interest rates.

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