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Thu, 25 Dec 2014 10:51:16 GMT 2014-12-25T10:51:16Z en-gb
Guardian News and Media Limited or its affiliated companies. All
rights reserved. 2014 The Guardian Adam Davidson: The banking
crisis was caused by too much money It's a weird idea, but
consider this: the roots of the financial crisis lie in the fact
that there was simply too much money in the world<p>One of the
strangest things about the <a href="">financial crisis</a> is
that anyone ever believed it wouldn't happen. For years, we now
know, banks were lending money to people who couldn't afford it
so they could buy houses that should never have been built. The
banks then turned the mortgages on those houses into <a
href="">ever-more complex financial instruments</a> that are now
nearly impossible to value. Then the banks sold all that bad
debt all around the world and