User:Akshayasuda/sandbox

Reasons behind the crisis:
·        One of the main reasons behind the crisis was the ruler of the roman empire Tiberus. He was frugal in his expenditures and due to which he never raised the taxes during his reign. When he got a  chance to raise the tax during Cappadocia’s  province. He rather lowered the taxes instead of raising them. His frugality  enabled him to be liberal in helping the regions when, for instance, an enormous seismic tremor annihilated a considerable lot of the celebrated urban areas of Asia, or when a money related frenzy struck the Roman Realm in 33 AD.

·        The important firm of Seuthes and Child, of Alexandria, was facing challenges due to the loss of three lavishly loaded ships in a Red Ocean storm, trailed by a fall in the estimation of ostrich feather and ivory. About a similar time the immense place of Malchus and Co. of Tire with branches at Antioch and Ephesus, all of a sudden wound up bankrupt because of a strike among their Phoenician laborers and the misappropriations of a freedman manager. These disappointments influenced the Roman saving banking house, Quintus Maximus and Lucious Vibo. A run initiated on their bank and spread to other keeping banking houses that were said to be included, especially Brothers Pittius.

·        Agriculture had been on the declining for long time, and Tiberius required that 33% of each senator’s fortune be put resources into Italian land. The legislators had about one and half year to make this modification, yet when the period was up, numerous senators had neglected to make the best possible alteration. The due date occurred in the meantime as the occasions above happened, putting a further fall in the financial sector.

·        The financial panic occurred over the time of  few weeks, one fall hastening the other, similarly as issues at Lehman, AIG and Morgan Stanley immediately prompted issues in different parts of the financial sector and the real economy.