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MORTGAGES: DEFAULT:  can’t payoff mortgages FORCLOSURE:  after defaulting, bank seizes your property MORTGAGE BACKED SECUR...
<ul><li>You end up without a house </li></ul><ul><li>Bank ends up with a house </li></ul><ul><ul><li>Banks are not in the ...
 
Rescue/Bailout Plan <ul><li>Treasury Dept. and Secretary Paulson have $700 billion at disposal </li></ul><ul><li>Will purc...
Government & Banks <ul><li>Expanded role with Banks </li></ul><ul><li>Purchased $250 Billion </li></ul><ul><li>Government ...
G8 GLOBAL ECONOMY ●  Affecting the entire world ●  Related stock markets ●  Recession EIGHT COUNTRIES ●  Mostly European ●...
 
 
 
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2008 Economic Crisis Assembly Presentation.97

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2008 Economic Crisis Assembly Presentation.97

  1. 5. MORTGAGES: DEFAULT: can’t payoff mortgages FORCLOSURE: after defaulting, bank seizes your property MORTGAGE BACKED SECURITIES: home loans bundled together. <ul><li>Values are unknown </li></ul><ul><li>Securities wont work if you stop paying mortgages </li></ul>Loans from the bank to purchase property
  2. 6. <ul><li>You end up without a house </li></ul><ul><li>Bank ends up with a house </li></ul><ul><ul><li>Banks are not in the real-estate business </li></ul></ul>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.
  3. 8. Rescue/Bailout Plan <ul><li>Treasury Dept. and Secretary Paulson have $700 billion at disposal </li></ul><ul><li>Will purchase bad mortgage securities from banks </li></ul><ul><li>Banks ability to give out loans is based on how much money they have </li></ul><ul><li>Bill is constantly updated and modified </li></ul>
  4. 9. Government & Banks <ul><li>Expanded role with Banks </li></ul><ul><li>Purchased $250 Billion </li></ul><ul><li>Government has partial ownership </li></ul><ul><li>Temporary/Short Term </li></ul>
  5. 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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