2008 financial crisis Essay Example | Topics and Well Written Essays - 1750 words

2008 financial crisis - Essay Example I realize that hard work and determination alone do not seemingly provide all my needs. For instance, I can secure a job in the event that a vacancy is available somewhere. However, the major challenge is the availability of those vacancies. It therefore seems that while hard work is critical in getting a job, other factors beyond my control also comes into play. Back in the days, finding jobs was much easier that it is today. Like today, the conditions were still strict but the opportunities were abundant since many employers were available. The 2008 global financial crisis changed all that. The crisis was partly a result of poor investment plans and the resulting consequences were felt across the globe. There was a general weakening of the global economy with many large corporations running bankrupt. This shrank the job market as many people were left jobless. The US government in an attempt to bail out bankrupt corporations, extended loans and grants to them and this added to the problem. However, I am not very sure about the very extent of the assistance. In my study, I seek to find out what exactly caused the financial crisis. Who or what was responsible for it, how it impacted on the government and society, and how much the government spent in mitigating it. In addition, I will also like to find information on how difficult it was for people who were recently looking for jobs after the crash. Finally Id also like to learn what new regulations have been made to prevent future crashes (Savona, 78). I will therefore begin my study by running an internet search on the causes of the financial crisis. Of the top results I obtained was an article from The Financial Law Review, the author clearly espouses all the issues around the global financial crisis and highlights the role of investment banks in creating the mess (Avgouleas, 456). Henry Lehman with his two brothers Emanuel and Mayer Lehman had founded the firm in Montgomery,