2008 Economic Crisis Assembly Presentation.97

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  • 5. MORTGAGES: DEFAULT: can’t payoff mortgages FORCLOSURE: after defaulting, bank seizes your property MORTGAGE BACKED SECURITIES: home loans bundled together.
    • Values are unknown
    • Securities wont work if you stop paying mortgages
    Loans from the bank to purchase property
  • 6.
    • You end up without a house
    • Bank ends up with a house
      • Banks are not in the real-estate business
    REPOSS ---S ESSED PROPERTY OF THE BANK ________________________________________________ N O T I C E THIS PROPERTY HAS BEEN FORECLOSED BY THE BANK. HOMEOWNER’S FAILURE TO PAY OFF MORTGAGES. THIS PROPERTY AND ANY ASSETS ARE NOW OWNED BY THE BANK.
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  • 8. Rescue/Bailout Plan
    • Treasury Dept. and Secretary Paulson have $700 billion at disposal
    • Will purchase bad mortgage securities from banks
    • Banks ability to give out loans is based on how much money they have
    • Bill is constantly updated and modified
  • 9. Government & Banks
    • Expanded role with Banks
    • Purchased $250 Billion
    • Government has partial ownership
    • Temporary/Short Term
  • 10. G8 GLOBAL ECONOMY ● Affecting the entire world ● Related stock markets ● Recession EIGHT COUNTRIES ● Mostly European ● Working with the U.S. COORDINATE THE ECONOMIC POLICY ● Global coordination DO WE NEED A NEW GLOBAL ECONOMIC STRUCTURE?
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