Political blog

Thanks to our media, it is generally known that the global financial crisis originated in the United States of America. Everything began on crash of the mortgage system. The reason is that the banks’ loans were given to the citizens with unfair conditions, so these people from the beginning were condemned not pay off their loans. Apparently no one expected that the level of unpaid loans will be so high that the banks themselves will make a loss.
But how did it become a world crisis? Many foreign banks bought the mortgaes from American banks in order to make big profits in short time. The American mortages were very cheap. Many banks organized branches in offshore countries that are not considered as affiliates of this banks officially. These stores were made to work with American mortages. So banks avoided the payment of taxes in their home country.
Then came the crisis and many American banks were declared as bankrupt. The mortgages have become useless and foreign banks lost a lot of money.

But how is this fact exploited by some states? I explain that in example of Russia. The government of this country pumped several billion rubles in the domestic financial market to reduce the consequences of the crisis. They are used allmast all reserves, only to avoid the crash of their own economy. And what say the Russian politicians? They explain that Russia’s economic feels itself very well and that the United States are evil because they tried to destroy economics of foreign countries with help of this crysis but crashed only their own economic. This is pure propaganda.