金融危机英语作文
What Caused The Financial Crisis?
I think we can sum up(总结,概括) the cause of our current economic crisis in one word — GREED(贪婪).
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 (体系,结构)worked well, but it reverses course and is now coming back to hurt everyone with a vengeance.
《英语作文范文:金融危机英语作文》由英语编辑整理,更多请访问:/english/我们猜您可能喜欢以下文章: 英语专业毕业生求职自我推荐信银行求职自我介绍(英语)中学英语老师述职报告赴海外留学 各类英语类考试简介托福考试是全世界接受度最高的英语水平测试美国留学 国内学生申请本科留学的.入学要求英语教师工作计划托福作文 能让你写出满分作文的四句话GRE阅读 “语言要素”有助于英语能力的提高托福听力 注意考试中四大音变现象
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