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List of world financial crisis originators published

26 January 2009 11:13 (UTC +04:00)

Guardian City editor Julia Finch thinks that it is a man-made disaster and picked out the individuals who led the world into the global recession. US former Federal Reserve chairman Alan Greenspan leads the list of world financial crisis originators. Bill Clinton, former US president shares at least some of the blame for the current financial chaos. He beefed up the 1977 Community Reinvestment Act to force mortgage lenders to relax their rules to allow more socially disadvantaged borrowers to qualify for home loans. Former US president George Bush, whose administration certainly did little to put the brakes on the vast amount of mortgage cash being lent to "Ninja" (No income, no job applicants) borrowers who could not afford them, and British Prime Minister Gordon Brown, who put the Cityâ€™s interests ahead of other parts of the economy, were also included in the list. US and British leading financial organizations like American International Group Inc, Goldman Sachs, Lehman Brothers, Merrill Lynch, Halifax Bank of Scotland, Royal Bank of Scotland, Bradford & Bingley, Northern Rock, Bear Stearns, Bank of England were also blamed in the crisis. The Guardian also accused hedge fund boss John Paulson, billionaire finacncier George Soros and billionaire investor Warren Buffett.