0
Same reason as the United States. They made too many loans on real estate during the bubble. When prices fell people couldn't pay back the loans.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Changing role of financial manager?
The role of the financial manager has been changing drastically over the years. Based on technological advances, they now perform more data analysis and play a significant part in acquisitions and mergers.
Why did Congress pass the Federal Reserve Act in 1913?
According to my research, the Federal Reserve Act of 1913 was passed in Congress because the initial financial and economic history of America - from 1776 to 1913 was extremely volatile. America was a young nation in search of success and security at the same time. So, some wealthy bankers from Europe, who also wanted some action in the American financial market, offered their capital as a "backstop" to any kind of economic downfall or crash. So, according to financial and economic theory, having a backstop to a government and nation that is emerging is a good thing. However, having this "sense of security" also has hampered America in the sense that the Federal Reserve has moved from being just a backstop to becoming the actual source of money and value for the entire national financial infrastructure. The US Government's inability to control spending and budgets have furthered the Fed's control of America. So, in many ways, it is the Fed that makes the rules of the game now.
What are two main reasons people invest?
Two main reasons people invest include investments to find financial security at retirement and investments to obtain wealth now. These types of investments can be long or short term.
What are the different social problems that Philippines are facing now?
As of 2014, the Philippines is experiencing a growing economy, however, poverty and unemployment remain important problems. Corruption among some government officials, such as police officers, is another challenge the country is dealing with.
Why are the lines between the categories of financial firms becoming more blurred than in the past?
because banks, thrifts, pension companies, insurance companies, and security firms can now merge with one another and sell each other's products
Why does Canada share the same problems as America has right now?
Canada and America are experiencing financial issues at the moment. They are also having issues with illegal immigrants and a strong rise in crime.
What season is Qaanaaq Greenland experiencing right now?
winter
What are some ecological backlashes that we're experiencing right now?
tyfjuy
Do i still be pregnant when experiencing blood clots?
Go talk to your doctor. Now.
When will Europe crumble?
Europe will not crumble. Just because Europe is experiencing economic troubles right now does not mean it's the end of Europe as we know it. Europe has seen more depressions than this. Europe isn't even among places with the worst economic slumps now or in history. Europeans are not living on the streets living in raged clothes, having no money at all, or starving to death because of this depression. In fact, this depression has seen its worst. It's starting to pick up not only in Europe, but in the US as well. Europe still remains the wealthiest and most powerful place in the world, right alongside the US, and will remain so for many, many decades to come and perhaps more.
How many is populasion now in Europe?
As of 2012, the population of Europe is about 750,000,000.
What promotes homogeneity in Europe?
This is only my personal opinion. 1. Most of Europe has had more colonial peoples, and been used to more foreign immigrants for centuries. 2. Much of Europe now has to LEGISLATE social acceptance of some groups, who apparently think they can immigrate and bend the whole country to THEIR will and desires. I think they idea of a homogenous Europe is a political and financial constuct, and will ultimately have to be forced on people or fail.
Is Ford in good financial condition now?
No, Ford is still in a bad financial condition now. You can read more on its financial health at http://money.cnn.com/2008/06/25/news/companies/taylor_ford.fortune/index.htm
Can poop come out your belly button?
Yes,I'm experiencing it right now, it's not pleasant
Where in Europe is it warm right now?
The warmest part of Europe right now is most likely Southern Europe (along the Mediterranean). This is the warmest part of Europe year round. However, it is pretty much warm all throughout Europe right now because it's summer.
What is the purpose of the financial department?
To keep record of the financial transactions of a business. that is all now go away
How many cases of anatidaephobia have been recorded?
I'm experiencing it right now, so that makes... one.
