The current economic state stems from mistakes made by different sectors of the business world. I believe it started off with people wanting to live the American dream by owning their own house. Banks were quite happy in gibing out loans to people that they knew that could not afford them. All these mortgages were then bundled up as CDOs. These were then sold to investors that were looking to make an investment. These CDOs were sold to many people that did not even know what they were. Selling these CDOs brought in revenue and as long as the housing market increased in value the banks were happy.
This is just an overview on some areas at fault for the current economic state. The people, banks, government and even analysts that could of seen potential of this happening are at fault. There has been careless mistakes made by different areas where someone should be held accountable.
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