次贷危机英文版.ppt

,单击此处编辑母版标题,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,*,Sub-prime mortgages in 2008,Credit crisis,Frozen credit market,investor,US,Federal Reserve,tradition,Large capital,Treasury bill,depression,Federal Reserve chairman Greenspan,lowers interest rate to 1%,Events,9.11,Dot-com,say novery low return,borrow from Fed at low cost,investors,1%means,banks,go crazy with leverage,10000$-11000$1000$,10000$,990000$-,110000$100000$,9900$,90100$,Safe 4%,Home,owner,Investment,bank,lenders,Mortgage,broker,mortgage,Fannie Mae,Freddie Mac,Commercial bank,mortgage,Risky 10%,Okay 7%,mortgage,Safe investor,Risk taker,Other banks,Investors,Collateralized,Debt,Obligations,Result,CDO,More,money,cycle,More,CDO,More,mortgage,More,house,Not requiring down payments,Home,owner,lender,mortgage,No proof of income,No document at all,Home,owner,Investment,bank,lenders,Mortgage,broker,mortgage,Fannie Mae,Freddie Mac,Commercial bank,mortgage,Risky,10%,mortgage,Risk,taker,Investors,Collateralized,Debt,Obligations,CDO,Home,owner,lender,investor,Investment,bank,More and more house supply,Mortgage-300,000$,House price-90,000$,Interest rate,1%5%,2008,年金融危机,高盛、摩根斯坦利从投资银行转为银行控股公司,雷曼兄弟破产,美林证券被美国银行收购,贝尔斯登被摩根大通收购,美联储有权监管所有银行控股企业,金融衍生工具等所有场外交易列入监管范畴,某种意义上意味着华尔街的终结,