In: Finance
Many analysts have tried to compare the Covid 19 Crisis with the economic and financial crisis in 2007-2008. do you think that the covid 19 crisis is similar or different with the economic and financial crisis, why?
No, it isn't similar to the 2008 crisis because the Corona crisis is, in a way, a nature-induced crisis and not a result of neglect by certain people. The 2008 crisis was a result of greed of banks and financial institutions who, in order to gain their compensations didn't care of the risks that came with the products. The Corona crisis is a type of crisis which couldn't have been prevented (as far as the knowledge we have currently) and didn't gain anyone in particular