The global financial crises are the most important and dominating topics in the
news in the modern era, due to the financial globalization that led to the
transformation to the global financial activity and economic and global markets;
which led t
o link the economies of the world to each other. Which at the same
time the most dialectic threads that pose as a key question about the nature of the
crises, and if it’s came from the nature of the capitalist economy, or whether it
arose because of the current global financial system, or is it a natural progression
and a correction for the process of the structural imbalances that appears, or is
the result of the classic banking system according to the point of view of some
Muslims, or is it fabricated in order to achieve political and economic objectives
for specific categories; from this perspective will be studying the global financial
crisis.
The first part of this research will discuss the causes of the mortgage
bubble and the causes of its blow up in 2007, and the consequences of this
crisis on various financial institutions, then it will talk about the manner of
forming the packages
mortgage bonds and the reasons for their spread, and
how crisis turned from mortgage crisis to a liquidity crisis, then to solvency
crisis.
The second and third part will be allotted to study the indirect causes
that led to the global financial crisis, as well as the traditional solutions
proposed to get out, and will emphasize that these solutions are only firstaid
solutions and the need to adopt radical solutions leading to fortify the
global financial system to protect it from crises in the future, because the
great imbalance in the basic pillars of that system. In addition to
emphasizing that the typical solution is only to replace these pillars with
new, more powerful and stable ones, or simply changing the whole current
system.
