Poor Lending By Banks

by Micheal
(London)

I have to say that banks, credit unions and other financial institutions have been their own enemy over the past decade.

It has got to the stage in the past two or three years where they were approving loans and lending money to all kinds of people who can't afford it and really shouldn't be being approved for those loans.

This has brought about this current financial crisis and the whole world is panicking. The more people panic the more the problem will be perpetuated creating a vicious circle scenario. It is time for the banks to start taking some financial responsibility.