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U.S. financial crisis .. The same trap .... The same way | ||
| Iraqi Journal For Economic Sciences | ||
| Article 1, Volume 0, Issue 18, 2017, Pages 2-6 | ||
| Author | ||
| Dr.Qusay Al Jabry | ||
| Abstract | ||
| And signed a financial crisis again ... And confirms by many as a feature of the capitalist system. The United States has a long history of the U.S., for example with the crisis, and we can point to the crisis years (1819, 1837, 1873.1857 0.1884, 1893, 1907.1930-1933 ...) also signed the financial crises in other countries (such as the Scandinavian countries, countries South East Asia, Mexico, Argentina, Japan, Brazil .... etc). Despite the many reasons and theories of financial crises, but we can pick a major cause of banking crises appear repeatedly in all cases and we will try in this paper is to focus on it. Where we will find that the scenario repeats itself through a major cause of joint that is excessive lending by banks. It seems that the problem with working in the banks regardless of their experience and professionalism banking are still, in light of incentives raised by profits, are affected by expectations of adaptive (Adaptive Forecasting) that invade their minds and make them look at the back instead of rational expectations (Forecasting Rational) are motivated to look forward. They still do not forget, or forget, the reasons for the crises that occurred frequently and in many countries of the world, especially in the eighties and nineties of the last century. The common feature of crises in developing countries, the operations of financial liberalization, including liberalization of interest rates make domestic banks lose the protection that the former usually prevails in the process of fiscal restraint, with high interest rates. As a result of lack of experience in competencies banking in developing countries in dealing with changes due to financial liberalization, especially as this Althrraada to the emergence of credit risk may not post departments bank to make and deal with them, as well as entry of new banks into the market of banking | ||
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