Greed-based lending should be replaced with a need-based one
The world economy has not changed much in the last at least 20 years. Just as Bill Clinton in 1992, Barack Obama faced the issue of economy in 2008 and does so in 2012 without the international economic situation being much improved. The reason for that are not the multiple shocks and crises economy went through themselves but rather the flaws of the conventional banking system. During the first two years of the last crisis over 200 US lenders experiences serious crashes. Experst support the opinion that as long as the system is based on greed instead of need, the situation will hardly change.
More on: http://gulfnews.com/business/features/greed-based-lending-should-be-repl...
Syndicate
