| From Islamonline.net: This paper tries to determine the primary cause or causes of the financial crises that have plagued almost every country around the world over the last three decades. Of particular significance are the 1998 LTCM breakdown and the prevailing subprime mortgage crisis in the United States which is more severe than any in the past and has had devastating spillover effects worldwide.
It argues that one of the major causes of these crises is the lack of adequate market discipline in the financial system........................................Full Article: Source |