Problem
Suppose a given country encourages its citizens to save 20% of their income and allocates these funds through governmentowned financial intermediaries. As a result, many government officials get mortgages to buy expensive houses (and often default on their payments). Do you think funds were allocated to their most productive use? Comment on the efficiency of such a financial system.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.