金融危機英語作文

What Caused The Financial Crisis?

I think we can sum up(總結,概括) the cause of our current economic crisis in one word — GREED(貪婪).

Over the years, mortgage lenders were happy to lend money to people who couldn‘t afford their mortgages. But they did it anyway because there was nothing to lose. These lenders were able to charge higher interest rates and make more money on sub-prime loans. If the borrowers default,they simply seized the house and put it back on the market. On top of that, they were able to pass the risk off to mortgage insurer or package these mortgages as mortgage-backed securities. Easy money!and what went wrong with our financial system?

The whole thing was one big scheme. Everything was great when houses were selling like hot cakes and their values go up every month. Lenders made it easier to borrow money,and the higher demand drove up house values. Higher house values means that lenders could lend out even bigger mortgages, and it also gave lenders some protection against foreclosures. All of this translates into more money for the lenders, insurers, and investors. Unfortunately, many borrowers got slammed when their adjustable mortgage finally adjusted. When too many of them couldn‘t afford to make their payments, it causes these lenders to suffer from liquidity issue and to sit on more foreclosures than they could sell. Mortgage-backed securities became more risky and worth less causing investment firms like Lehman Brothers to suffer.

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Moreover,insurers like AIG who insured these bad mortgages also got in trouble. The scheme (體系,結構)worked well, but it reverses course and is now coming back to hurt everyone with a vengeance.

《英語作文範文:金融危機英語作文》由英語編輯整理,更多請訪問:/english/我們猜您可能喜歡以下文章： 英語專業畢業生求職自我推薦信銀行求職自我介紹（英語）中學英語老師述職報告赴海外留學 各類英語類考試簡介托福考試是全世界接受度最高的英語水平測試美國留學 國內學生申請本科留學的.入學要求英語教師工作計劃託福作文 能讓你寫出滿分作文的四句話GRE閱讀 “語言要素”有助於英語能力的提高託福聽力 注意考試中四大音變現象