All Time Banking System Inadequacies

Journal Name: 
Journal of Banking, Information Technology & Management
Volume: 
Vol. 15 - No. 1
Authors: 
Author Name Designation Organization
I. Annapurna
Abstract: 

Present day financial system is compelling the People's Governments to take burden of the luxurious and mischievous deeds done by Corporate entities. Every pie of tax collected by Governments either it is Central Federal, National or Local is the result of sweat and toil of common man whether he/she is an employee, self employee , farmer or a blue collar worker of any sector. No Government Institution or people's representatives or even the Government employees are not realizing the real value of the tax money. Every pie i.e. deposited in the banks is hard savings of general public. But the system is not recognizing the true value behind those funds. The irresponsible Political administrators making conveniently laws and welfare programmes for giving loans to evaders even, because they are collecting election funds from these irresponsible debtors in one direction purchasing votes, by influencing the voters brain by giving filthy loans to rural and urban evaders. And this type of malpractice is encouraged by local political leaders. And also these evasive practices encouraged by corrupt advisors from Governments as well as Banking Institutions. The evasive techniques are sometimes even encouraged by few tax consultants. These phenomena became common throughout the World in all democracies. In this context the very good example is the banking crisis of USA - "The Financial Crisis of 2008". In 2008 the world economy faced its most dangerous financial crisis since the great depression of the 1930s. The problem which began in 2007 when sky-high home prices in the United States finally turned decisively downward spread quickly, first to the entire U.S. financial sector and then to financial markets of whole World.
These types of Monetary System collapses happened previously also in 1890's, 1920's again in 1950's still these financial crisis are happening because of irresponsible of political and banking administrations.
After the crisis Governments are donating the collected hard tax money, share capital, bank deposits etc. are donating to the Banking System. To encourage the culprits again and again who can deceive the financial system continuously, this type of villain vagaries are the resultant selfish features in corporate with the Corporative administrative tactics, because they always concentrate on their  personal wealth amazement and materialistic gains. These type fiscal disturbances are the real cause of all inadequacies for the funding of real practical needs of citizens like Health care, Education, Farming losses due to natural calamities.
The present Government is also trapped and vitiated by these unwanted forces and suffering in balancing the fiscal system and public welfare.