The mortgages are not the main cause of the financial fallout

The mortgages crisis is one but not the principal cause of the financial bankruptcy. The main cause is the proper economic system that put the financial economy in first place.
The priority of the system is the financial speculation and not the production in the real economy. The money is the God of the system. Nothing is more important than the money. And everybody invest their money with the hope of obtaining big profits. But this not ever happen. The speculation is a risk.
The speculation in the Stocks Markets is, then, the other cause of the financial crisis. The bad investments, the over appreciation of the shares and the fall of the markets was visible too few months ago. The United States Stock Market crisis was the prelude of the banking fallout.
The lost caused by the mortgages are not enough to provoke the world economy ruin.
After months of continuous increase, on July 11 2008 the oil reached their maximum historic level, US $ 147; a similar trend was observed with the food prices.
These facts contributed to accelerate the financial problem. The first consequences of the commodities price enhance were the reduction of the consumption. The crisis favored some sectors of the economy in detriment of others.
The true is that the financial crisis came up because the banks had problems hanging over them for many years, and not only because of the mortgages situation. A financial crisis of this magnitude does not emerge by surprise.
The other great true is that in the financial crisis the bankers save their personal fortunes.
The answers, so, must be searched in the administration of the financial system that was not able of to guarantee the health of the institutions.
But the major responsibility is of the countries governments that did not exert an effective control on the banks activities.
This is not the first time that the financial system collapses and sure will not be the last. Mean while, the publics funds ---in other words, the taxpayers--- pay the account for the bankers happiness.