- The banks lent too much money to people with too little money to buy houses too expensive, by subprime mortgages.
- banks package subprime mortgages sold to investment funds, who expected high returns.
- With economic slowdown, many people could not afford their mortgages, which made these returns were not achieved.
- Some funds and banks had to get rid of these investments to balance their balance sheets accounts and to meet their accounting requirements. This made the value of these investments come down more and more like a spiral without finally .
- With extremely complex investments that few experts understand (not to mention politicians), some banks started to not trust others, and many of these banks began to not trust their clients, and many of these customers began to be wary their banks .... what caused the credit markets virtually arrived to a standstill.
- governments intervened to restore confidence, but still have not had much success.
Drawing journal EnergiasRenovables - num February 1909
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