KnowDatImReal
Banned
There was a bank crash due to improper regulating of banks and investors in the business markets. The government had to bail out some of the leading banks in Britain however this was a problem because the government had to borrow money which put them in debt. The government operated before but because of the debt they had it became more difficult to run the country. This meant that there had to be cuts to services and an increase in taxes. There was a need to increase taxes because of the high amount of debt. The increase in taxes meant they would be able to properly run the country and the cuts to services would mean less debt to pay. The problem was that the government got into unmanageable debt which meant that the debt they had before was too high in the first place. Bank crashes are always a possibility in any market and the government should have been prepared for the possibility of a bank crash. The bank crash had effects such recessions and an increase in taxes and that meant that poor black people with low money suffer from the low health of the market when it wasn't their fault. There are also many black people who are unemployed and on benefits and they were affected by the decrease in benefits after the bank crash.