American banks greed
For the average European it sounds very hard to believe that some American banks could have lent money in mortgages to ninja people (ninja being the acronym for no income no job and assets).
European banks lending policies makes it quite impossible.
Now, when some of those loans become default, and the American banking system suffers the consequences, the Europeans lightly smile.
Americans are able of doing the best and the worst in terms of financial conducts.
Why the entire world has to pay for their sins?