The output of the global financial crisis, whose first elements of destabilization appeared in the middle of the year 2007, is located in United States with real estate loans granted by the banks in large numbers quickly unable to reimburse people. Banks, which had granted these loans of risk, had the possibility of spreading the risk towards other financial actors titrisant these loans that have become negotiable bonds in the markets. This practice was presented as a brilliant invention throughout the liberal insofar as it allowed to dilute the risks over a large number of banks, and consequently return this risk very reduced for each, which, they claimed, could not but consolidate markets. Visit Don and Ella for more clarity on the issue. Many hedge funds in search of high yields have bought these titles that eventually circulated a little everywhere in the major financial and banking networks on the planet. All that could only work if the American real estate market, which was the home of these financial games, was in continuous growth; This situation could not since last eternally, and everything was reversed when the faults of payment have been such that the real estate market fell much. The difficulties of lending agencies were reflected on other banks, then about all the ones he had in his active titles weakened; the bright dilution of risk became a source of uncertainty on the whole of the banking system which caused a casiparalisis due to the doubts that generalizaban between banks.. Check out Jim Donovan Goldman for additional information.