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The Credit Cruncher
1.
The Credit Cruncher
esenta tion by A pr Michael Eury
2.
“The economy will
never stop growing.........”
3.
Anyone can buy
a house
4.
Subprime mortgages
= greater risk of default a history of bad loans or defaults, those with a recorded bankruptcy, or limited debt experience
5.
Sub-prime Sub-prime
mortgage Sub-prime mortgage mortgage Sub-prime Sub-prime mortgage mortgage
6.
Bankers named these
“Collateralised Debt Obligations!” Note: Earlier name, “Worthless Junk”, was less popular with investors
7.
A A A rigorous
analysis by ratings agencies
8.
US investment
banks are prime movers in these transactions (‘possibly’ not a real banker)
9.
Banks,
governments, businesses around the world bought these ‘rock solid’ assets
10.
And on it
went.......
11.
Debt
assets Debt assets Debts
12.
Until one day,
when........
13.
Honeymoon periods on
sub-prime interest rates ended
14.
Mortgage holders
couldn’t pay the higher interest rate
15.
16.
...instead of house
$ outweighing the mortgage....
17.
...mortgage $ are
greater than a house’s worth!
18.
for the unknowing
buyers of the Junk assets.... values and financial returns.....
19.
are washed away
20.
up to 100
US mortgage lenders close down and....
21.
Value CDO’s (Junk assets)
!!
22.
Established investment banks
become insolvent with a great risk of more to come!
23.
Commercial confidence
plummets
24.
US Federal reserve
launches $700b ‘rescue’ package
25.
Stockmarkets crash
26.
no longer confined
to the US
27.
it’s now more
like this!
28.
(and politicians) Economists
don’t quite know what to do “I’ll count to 10, then everything will be all right!”
29.
“Whoops, forgot to cross
my fingers! I’ll try again. 1, 2, 3.......”
30.
www.stickylearning.com.au website launching December
08 - bookmark it now!
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