The Occupation of U.S. in Iraq has been given the name of Iraq War, also known as the Second Gulf War that is a continuing military campaign which started on March 20, 2003 with invasion of Iraq by a strong group of military, comprises of troops from different countries all over the world led by United State. The countries that support this multinational force include Demark, Australia, Poland and several other nations. This invasion of Iraq did not support by all of the Arab states and a numbers of members of the NATO alliance, while on the other hand Eastern European did the favor of Iraq Occupation.
In the beginning, Iraq was claimed by U.S. to cause a serious and imminent threat to the security of the America and its alliances base on the assumption about possession of weapons of mass destruction. This appraisal was supported by the U.K. intelligence services, but not by the other countries such as France, Russia and Germany. American weapons inspectors found no evidence of weapons of mass destruction and support to the earlier disparagement of poor intelligence on Iraqi weapons of mass destruction. After the invasion, US led Iraq Survey Group concluded that Iraq had ended its weapons of mass destruction program in 1991 and had no active program at the time of invasion, but that they planned to restart the production of weapons if the Iraq sanction were lifted.
Multinational force quickly defeat the Iraqi military and then arrested the Saddam Hussein as the backbone of all dos and done against America. There is not a single good outcome of this war. There are only choices now between bad and worse. A crime has been committed and it cannot be taken back.The United States is increasingly going it alone as they lose support from other countries. The high cost of projecting troops halfway around the world for several years is approving to be unstable. Finally, anti U.S sentiment in the Muslim world keeps increasing and other hotspots of terrorism and violence are beginning to erupt.
Financial crisis refers to the situation when financial institutes start losing their values or when there is a rapid down fall in the financial sectors and financial markets. It is one of the crucial issues that have to be taken seriously. Broadly speaking, investors start to loss their confidence in stock market, bond market and foreign investment, huge increase in the withdrawals by the depositors from their accounts, currency is getting devalued, prices of most commodities increase rapidly, negative factor of behavioral finance that demoralize the investor, poor governmental policies & procedures and continuous negativity in the GDP all leads to a state toward financial crisis.
Sub-prime mortgage scheme is the major reason that fueled the recent financial crisis. Basically, it is a scheme in which banks provide the loan to the customers with very low or no conditions. For conventional mortgage, banks have their several requirements to sanction the loan. To avoid these hurdles for those who have larger than average risk of defaulting, U.S banks introduced the scheme of sub prime mortgage. Another feature that distinct the sub-prime from the conventional mortgage is, in conventional mortgage customer has to pay same amount of interest for the whole time period of payments while in sub prime mortgage banks charge very low interest rate initially and after the completion of mentioned time, the interest rate raised to the amount which cover the discount provided by the banks in the initial period. In the beginning, bank didn’t hesitate to give loans to the customer without any investigation and proper documentation and borrowers started to take loan without any future planning. But when the initial period completed, people refused, not only to pay back the interest but also the principle amount and returned back the mortgage asset to the banks that led the banks toward the liquidity crisis, which ultimately shook investor confidence in credit market. The other affects of financial crisis includes decline in the asset values, central bank tighten the credit policies that decreased the flow of cash in the business community and general consumer and the society suffered the loss in term of jobs, output and wealth badly.
