Proceeding to the conclusion I would like to add that we all have witnessed the one of the most difficult times in the previous months in comparison to the great depression of 1930’s. The low quality mortgages in United States had much stronger incentives to meet the ongoing demand at that time, so the focus was not on monitoring the borrower’s credit worthiness or good loans. And the high demand for other credit products such as the commercial real estate, leveraged loans, and others like the consumer loans, and the after affects of such proceedings is visible.
There are several lessons which could be learnt from our precious mistakes in the private sector as well as the public sector related by the incentives brought forward by both to bring out the financial crisis (Nsouli, 2008).
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