What is the real reason for financial crisis?

Greed and hence, losing sight of fundamentals. It's always back to basics. People bought houses which they could never afford and banks hard sold financial products to meet their numbers so that the top guys could enjoy massive bonuses.

Why buy things which you are clueless and then blame the world when the things you bought become worthless? It's because you want that extra $ but you still do not understand and rely totally on the glib tongued of the bankers.

In addition, the rating agencies are to be blamed too. There is so much conflict of interest and the motivation is to make $ and giving good credit rating for more $.

Too much capitalism with no control on these corporate guys who have absolute freedom to do what they want. Shocking with the way they spent $ which is not theirs.

The complex and sophisticated off-balance sheet products are so difficult to trace and the bottom is still being tested.

Regardless, we all lost so much $ and need to learn from these lesson hard, hopefully.

Which clearly showed that, "Too much of anything, is good for nothing"..