The research paper on The global financial crisis

The research paper on The global financial crisis Essay example
Masters
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Finance & Accounting
Pages 16 (4016 words)
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Name………………………………………………………………………………xxxxx Institution…………………………………………………………………………xxxx Course……………………………………………………………………………….xxxxx Professor……………………………………………………………………………xxxx @2012 Auditing and Assurance Introduction The global financial crisis caused an economic meltdown…

Introduction

Therefore, this report will discuss the background of the financial crisis and the proposals tabled by the commission. 1. Background of the financial crisis The financial crisis started in the year 2007 and spread with intense in 2008 despite of the central banks and regulators effort to calm it down (Merkel, 2012). In early 2009, the global economy was experiencing recession and the only way out was to focus was on preventing the downtown from prolonging to a great depression. The root causes of the financial crisis had to be looked into so as to take a cause of action (Se Hoon et.al 2008). Everyone one was responsible for the financial crisis from the government, auditors, credit agencies, banks and the public. But most of the causes originate from banks and financial institutions since they are responsible for regulating monetary policies and financial stability. Banks and other financial intermediaries play a critical role in the financial system thus it is vital to understand their role (Allison 2012). For instance, they respond to contagion meaning that one shock can affect a wide area. ...
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