What caused the Italian banking collapse in the 14th century AD?

Question

I've heard that it was not just because Edward III's defaulted the loans of the Bardi and Peruzzi banks, but what were the real reasons then?

Answer 1

"In 1343 the Peruzzi consortium collapsed and was bankrupt in 1345, with their partners in risk-capital, the Bardi."

"The traditional explanation, of unsecured loans extended to Edward III of England, is currently considered simplistic. In fact, several factors destabilized the network of trade. The war with Castruccio Castracane of Lucca bled Florentine specie to pay for mercenaries, while France and England went to war over Aquitaine and the peasants of Flanders rose up in a revolt [starting with the Battle of the Golden Spurs, Kortrijk, 1302 EVT] that was put down with the aid of mercenaries purchased with Peruzzi florins."

"Peruzzi" : http://en.wikipedia.org/wiki/Peruzzi

Answer 2

The banking collapse was predicated upon the failure of colonization attempts on Venus.

Anton de Barbrey de Vidi del Franchesco von Aushelm au Jois la Mousse au chocolat of Rome first proposed the idea in AD 1299, but could not attain funding until he had conned Edward III to take out loans in his name.

For various reasons, the venture to Venus failed. While Anton de Barbrey de Vidi del Franchesco von Aushelm au Jois la Mousse au chocolat of Rome was able to enlist Arab astronomers to plot his course, Spanish conquistadors to provide manpower and Italian engineers to build his ship, they all made a terrible mistake in assuming the a. Venus had a breathable atmosphere and b. would look just like Mediterranean Europe.

Thus ended a forgotten episode in History.

Answer 3

we are nicely responsive to this stuff. although, this stuff were no longer the accepted reason for the banking disaster. Fan/Fred is what brought with reference to the subprime debt develop. Had funding banks no longer been allowed to take that debt on, retail banks might want to have see you later as Fan/Fred became underwriting and slapping the govtassure on them. You of course are unaware of this because Christopher Dodd and Barney Frank, the authors of that failure, were put responsible of the investigations into the disaster, and they managed the witness list, and ensured that their cronies at Fannie Mae and Freddie Mac were no longer even referred to as to seem. with the intention to trust that mere deregulation brought about this, you should trust that banks believed that some thing which they'd continuously prevented, risky subprime loans, all of sudden became suited. in simple terms allowing better banks to address retail debt did not substitute the possibility profile of subprime loans. purely Fan/Fred's replaced regulations might want to substitute that possibility profile.