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BackThe causes of the financial crisis arose long before the property bubble in the USA burst in 2006.
A relaxation of the rules in the financial sector, which had been initiated in the 1980s, only to be vehemently pursued again during the last decade, entailed a loss of transparency<br />in respect of products and institutions, a large increase in highly complex financial instruments and an enormous acceleration and fragmentation of the market, which started to operate on various, partly intransparent trading places.
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Helmut Gahleitner
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