In the situation when a global financial crisis appeared in the autumn of 2008, a long-time public discussion on the sources of this crisis, explaining its development and pointing to the need to improve credit risk management procedures began in the media.

In the course of numerous analyzes carried out after 2008, many irregularities in the functioning of investment banking operating on capital markets in 2006-2008, investing in high-risk securities and their derivatives, were diagnosed. In addition, the institutions of supervision over financial systems did not notice many irregularities in the process of granting mortgage loans and in the rating agencies issuing too high, overly optimistic assessments for investment banks located in the forfeiture, sold for not fully informed about a high level of credit risk for investors, which were offered securities, credit derivatives, subprime bonds. Financial system supervisors also did not notice high systemic risk in a situation where a significant part of all mortgage loans in developed countries with the Anglo-Saxon model of the financial system were insured by a few insurance companies. Financial institutions also did not notice unethical practices of selling investment banks to investors of securities, whose valuation on securities markets was significantly overvalued and in the situation when the global financial crisis occurred, these securities were almost nothing or nothing worth buying.

The global financial crisis in 2008 was the reason for increasing the scale of interventionist economic policies in developed countries. The main instrument of this policy was the significant development of a mild monetary policy and interventionist measures aimed at forcing the restructuring processes of heavily indebted enterprises and stop-ping the decline in lending by commercial banks. As part of the pro-development activities of the state intervention, the Federal Reserve Bank applied a mild monetary policy of low interest rates and a program for activating lending and maintaining liquidity in the financial system by financing the purchase from commercial banks of the most en-dangered assets. A few years later, the European Central Bank applied the same activities of activation monetary policy. The functioning of the financial system will not be fully corrected as long as there will be a message in the media encouraging the banks that the global financial crisis is primarily attributable to the Federal Reserve Bank in the USA. In many para-documentary films, which, as a para-scientific explanation and education of citizens, pro-mote the philosophy of combining deregulation of financial markets with the development of a free market, and attempts to regulate markets are trying to implement the principles of real socialism, a system quite different from that considered an ultramarine US economy.

Do you agree with my opinion?

Therefore, I am asking you with the following query:

Was the picture of the sources of the global financial crisis presented in the media fully objective?

Dear Friends and Colleagues of RG

I described the problem of "Anti-crisis state intervention and created in media images of global financial crisis" in the publication:

Article Anti-crisis state intervention and created in media images o...

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