The sub-prime crisis, always felt that something was amiss during the early thought is indeed a problem in the United States, but through subordinated debt passed on to the rest of the world part of the debt, but by the recent in-depth thinking, especially given some of the common modus operandi, it was found with a lot of scam has striking similarities, but its more trendy fashionable camouflage, finally I found the sub-prime crisis is shaking the biggest scam of years. the United States to solve the housing problems of low-income, well-planned on the subprime crisis, investors to foot the bill, investors suffered huge losses, but the U.S. low-income housing problems are solved, and the U.S. Government only a little money, they may even make a small fortune from which the United States is how to do it? Hear me break down below. the United States to facilitate understanding of our low-income TOM and JERRY, for example, TOM and JERRY no fixed source of income, no fixed assets, without a good credit history, are three non-officers. How to solve their housing problems is a big problem, not solve their housing problems, these people of no fixed abode, wandering is a serious social problem, how do? Fortunately, the U.S. financial super-developed, with or without exhaustive financial innovation, but this alone is not enough, this is a systematic project, the first is to create a super bull market of the real estate market, to make all people believe the U.S. real estate will has been upwards, this lasted for many years the United States with a loose monetary policy. big real estate market boom, many developers will build the house, then TOM and JERRY house will have a source of supply, but the developers are not welfare agencies, real estate developers to make money, that is, the real estate crash to fire-sale sold as three non-officers can not afford TOM and JERRY Yeah, real estate, not only can not crash, but also to continued prosperity, or TOM and JERRY many problems still to live. When U.S. banks and mortgage institutions played, they found TOM and JERRY agitation,supra shoes, now you see how good the U.S. real estate market, you buy it quickly. TOM and JERRY said we have no money, the bank said it does not matter, we have zero down payment product; TOM and JERRY say that we are not enough credit rating, loan work? Yinxing, this will not be a problem, you can find a credit rating agency, they will help you put everything fixed up, but the relatively high interest rates; TOM and JERRY Youyuedaikuan Lilvtaigao we can not afford Yeah, Yin Xing Jiang that I course, aware that the interest rate tailored specifically for you to reset the product, the first three years as long as you pay very low interest rates, three years after the re-set; TOM and JERRY think sounds good, but there is a problem, interest rates are not paid , the mortgage is certainly not the money, the bank said that the problem we have it for you, we designed a cycle of mortgage products, housing prices have been rising is not it? Prices up next year, we give you room to do some value-added mortgage loans, so you do not have money for building it? TOM and JERRY Oh, great ease, it is also okay than communism, we seem to be no risk, nothing anyway, the worst result is that the house has been repossessed to it, at least a few years can stay for free, very good Yeah, did, lending $ 200,000 per person, one person buy a house, so the cost of each real estate $ 150,000 house, $ 200,000 sold, builders, building materials, etc. along with prosperity and related industries money, real estate earned $ 50,000, get a huge profit, the U.S. government to obtain the tax, this money has entered the house of the U.S. real economy, the prosperity of the U.S. economy and make its due contribution. mortgage institutions and banks are not fools, why do TOM and JERRY such high-risk clients? Banks and mortgage institutions had subprime risk is very clear, long plan, only high-risk high-profit, the securitization of mortgage loans, mortgage loans and is to transfer part of the proceeds to go out, do not put out the transfer of risk of it. Such assets can be who refuse to risk it? This is the most critical time to be playing a role, is an investment banking and real estate mortgage intermediaries. The key is to take the evasion of debts transferred to a debt-asset-light company, in the event of problems,christian louboutin, these institutions immediately bankruptcy, the creditor no recourse to you, from this perspective critically Mae, Freddie Mac and the fate of Lehman Brothers from bankruptcy start of the game had been designed, it can be said is their fate. Fannie Mae, Freddie Mac, the two rooms is doing it? Two rooms is called GSE Enterprise is authorized by the government, but the two rooms is a private company, so a total of three U.S. companies, another is called an auspicious beauty. Two rooms in the business of mortgage loans acquired from lenders and then packaging, to the mortgaged property as collateral to issue mortgage-backed bonds, MBS, the U.S. housing market to provide a steady stream of funds. As the two rooms is a GSE, the credit rating agencies to give their bonds AAA ratings high after the U.S. Treasury. Its profits from its acquisition of mortgage bonds issued between interest rate spreads, two rooms in the U.S. $ 12 trillion mortgage bond market accounted for half its size of 5.2 trillion, but two rooms, but the core assets $ 83.2 billion, up 65 times leverage ratio, capital adequacy ratio of only 1.6%, Lehman Brothers, up to 33 times leverage ratio, capital adequacy ratio is only 3%, are very typical asset-light company. Bank of America mortgage once the two rooms through intermediaries such as MBS issuance packed out, the investor's money into the U.S. real economy, the bank's credit risk is completely transferred to the two rooms so the agency, and U.S. banks and mortgage institutions brazenly issuing subordinated debt also reasonable. In addition to two rooms, the investment banks like Lehman Brothers and other intermediaries are doing a lot of private MBS issuance of this packaging business, they do not know the risks of subordinated debt? Very clearly, these intermediary organizations interested in subordinated debt have several reasons: First, the U.S. housing market continues to boom, and looks set to continue to prosper, followed by the agency after the acquisition of subprime loans almost never stay in the hand, immediately packaged into MBS sold, the fast sell for less than a month, more important point is that these intermediaries is a source of profit and mortgage bonds issued by the spreads between, high-interest subprime loans ah , so the profit margins are much larger. subprime loans packaged into subprime MBS, the two rooms of the role will be very crucial. We all know that the so-called subprime loans is no ability to repay debt of TOM and JERRY such loans to officers, three non-United States, similar to non-performing assets of domestic banks, such loans is then packaged into subprime junk bonds, it is difficult to sell out, together funds such as pension funds and large institutions is absolutely not allowed to invest in junk bonds. Just talked about the two rooms so close to GSE bonds have credit ratings of U.S. Treasury bonds, to sell not only their own two rooms MBS, and to expand the profitable channels, but also to buy other private institutions to issue MBS, and then sold. So this turned on subordinated debt as AAA bonds of high credit rating, thanks to the continued prosperity of the U.S. real estate market, the first few years of high-yield subordinated debt has become a rare high-rated bonds, and so are a number of institutions favorable for investors. Retail funds are limited, Lehman Brothers mini-sub on the issue of debt. See MBS so to make money,christian louboutin pas cher, financial innovation, Wall Street tried to play its ability to meet the different needs of institutional investors in the MBS on the basis of creating a CDS, CDO and synthetic CDO such as financial derivatives, the numerous banks, mutual funds, insurance companies , hedge funds, foreign governments, foreign exchange reserves, and so dragged came in, these institutions are many and pay any money, they are playing other people's money, not sparing even the ordinary retail investors, Lehman Brothers mini- bonds are sold even in Hong Kong. In fact, as long as the subprime MBS sold, this terrible scam and you're done, CDS, CDO, but such financial derivative products based on the MBS again setup, and friends who are interested can find information about here is not explained in depth . come back to, let us look at TOM and JERRY How to buy a house after living, zero down payment loans to $ 200,000 after bought a house, TOM and JERRY this had a happy life. Not only to live on a new house, and the true right bank said, home prices rose, rose to $ 230,000 even end up with a value of $ 30,000 mortgage and from cycle to $ 30,000 bank loan in cash, $ 20,000 also mortgage the mortgage, leaving $ 10,000 in cash can go to hire a car on vacation. U.S. housing market continues to boom, even the second year rose to $ 270,000 price, the value of $ 40,000 with a mortgage and from cycle to $ 40,000 bank loan in cash, $ 20,000 mortgage has mortgage, leaving 2 million in cash simply to buy a car installments are paid off, TOM and JERRY now a house and a car still idle, turned into a middle class. With three non-United States more and more people buy a house, no room for fewer and fewer people, the market growth rate began to fall. Upward trend in U.S. home prices began to slow down in the third year prices rose to $ 290,000 only,supra, this time with the Bank of Credit to $ 20,000 for the mortgage on enough, oil prices also rose, can not afford a car is open . Federal Reserve to see almost all the fish into the net, and the ready to close the net, so to enter the United States monetary policy interest rate cycle, the rapid increase in interest rates makes the market rapidly shrinking, housing prices in the fourth year not only did not rise,polo ralph lauren, but fell, but worse is the bank that now need to reset the interest rate, so you need to repay $ 30,000 per year, TOM and JERRY not enough money to eat, which mortgage money, so off for. Subprime mortgage crisis began, the bank said for the usual six months to be confirmed as broken off for the two rooms has started to receive interest, but in order to sell the hands of the MBS, decided not to tell investors their first pocket bond interest payments to investors. prices continue to fall, TOM and JERRY 2034 after living in the white, car loans and holiday houses, after that we really afford to pay the mortgage, move out, the key sent to bank house is yours. So sub-prime mortgage crisis, Fannie Mae, Freddie Mac and Lehman Brothers this agency, and to leverage ratio is high, that lived by the continued sharp fall in asset prices, such as two-room core assets only 1.6%, Lehman Brothers and only 3% of the capital adequacy ratio, flew into bankruptcy. TOM and JERRY two sets of the original house is mortgaged to the respective bank loans, but mortgage and mortgage banks to sell Lehman Brothers, and Lehman Brothers has packaged into MBS sold to Fannie Mae,christian louboutin, Fannie Mae again package sold to investors, some of Lehman Brothers MBS sold directly packaged into a variety of investors. For example, a call being taken advantage of investors to buy $ 200,000 Lehman Brothers mini-subordinated debt, which is only $ 200,jordan shoes,000 bond to buy Lehman Brothers hand over a big package of assets among a very small part of the MBS, Lehman Brothers and TOM or JERRY is done separately from two different banks buy mortgages over, pass through this long chain after that, the hands of investors for $ 200,000 or JERRY TOM does not correspond to the house. Now Lehman Brothers has gone bankrupt, TOM and JERRY house do not know who, and lending banks collected with it. subprime mortgage crisis intensified, real estate prices continued to decline, TOM and JERRY proletariat such a bad location to buy a house, of course, security is not good, the bank received after a time these two houses really hard shot, have to pay taxes in his hand what utilities management fees, but the key is to sell the mortgage bank has to take charge of Lehman Brothers in Arms principal back to the early profits. Lehman Brothers, a lawyer for a lawsuit to recover money it more worthwhile, the bank had known these two guys are not selling themselves, the bankruptcy of Lehman Brothers have had to pay into court for his legal fees. Anyway, my claims are not a big sale right then, TOM started listing the house $ 1,000 a month went so far as no one is interested, the price seems too high,dolce gabbana, was shot anyway, so the listing $ 1 sale, just JERRY each There are hundreds of dollars on benefits can receive, too cheap to pay immediately in cash to buy $ 1, no mortgage of. Banks and a few days sale, JERRY house listed $ 200, TOM day laborers RBI from time to time, there are a few hundred dollars on hand, also did not hesitate to win, $ 200 cash no mortgage. I do not think that makes up the U.S. to sell $ 1 house, but news of the true story, sell a few hundred dollars of this is not only a special room, but has been up for sale, you can buy or to buy. There are news reports that there was a 94-year-old American woman also were unable to mortgage and be cast out, this is too inhuman, the U.S. judicial intervention to waive the debt. Large-scale rescue and now the United States, the United States should also aid low-income home buyers, TOM and JERRY in the streets a few months later, again on a real live house of their own, a true sense of the propertied the class. investors being taken advantage of only half a day wondering, breaking the head is also thought to understand, my how the 20 million dollars gone out? TOM and JERRY United States could have been three non-officers, loans to buy a house, not loans from the housing to be collected, how the house has now returned to their hands out? And they do not owe loans have become a true middle class has. articles written here, I do not know if you know the sub-prime crisis is not a hundred years of this terrible scam. To give you more clearly, here we have some common tricks and scams in the U.S. subprime mortgage crisis to be a simple analogy is even more clear. Below the most recent ABC audit revealed cross-share reform before the Huludao City, Liaoning Province in Northeast Chi Tat Group Piandai case example to illustrate. Chi Tat Group in Liaoning Huludao City, with century buildings, gas stations, five-star hotels and other assets of about $ 1.1 billion in loans ABC 8.5 million. Chi Tat Group debt evasion path are: Liaoning Chi Tat Construction Company Limited (hereinafter referred to as Chi of shares) will be part of the property's new home), new undertaking new home half of the original blog of shares registered capital of 102 million, and undertake all claims, debts. Chi of the original shares are taking a 127.7 million yuan registered capital, after a new home loan was assumed by ABC as This is the Chinese common trick of bank Piandai case, that is, assets less debt transferred to a company, or to the company's high-quality assets transferred, making the company to become asset-light company, the assumption of debt of the company's assets are less, avoiding the debt bankruptcy at any time. The key to success is to not let the creditors have recourse to the high quality assets, or assets of the company. U.S. sub-prime mortgage crisis in the mortgage bank will sell the house or two investment banks like Lehman Brothers bond is transferred to the asset-light companies in the process, the core assets of two rooms only 1.6% of total assets, Lehman Brothers The capital adequacy ratio is only 3%,louboutin, it is easy to insolvency and bankruptcy, thus evading payment of debts. New home of the new capital adequacy ratio much higher than the two rooms had better, or people not play big. 2001, the Chi of Huludao City real estate development company incurs Liaoning Branch of Agricultural Bank of China granted AAA credit rating certificate, Chi Tat has been the ABC's key customers, and has a high credit limit. This is the U.S. Fannie Mae and Freddie Mac after the U.S. Treasury has a credit rating is one thing, the more elaborate hoax, the more attention to establish their own high credit rating, so easy to fool dupe, like many liar rental office in the government office building, office, shook hands like hanging with the leaders of the photo, is a reason. Although Fannie Mae and Freddie Mac was originally a private listed company, but the two rooms is the GSE, so that investors think that they have government credit, is also a reason. addition to the transfer of the company and debt division, Tao Feizhai Another way is to inflate the value of collateral. In Huludao, a well known fact that the Chi up in Huludao City, prime contractor of the century building, despite the schedule, but to charge high prices to the ABC. ABC insiders say the real value of this building up to reach 50 million, but ABC as collateral when the valuation of more than 200 million yuan. The key is to scam inflated collateral value in the sub-prime crisis in the two rooms and investment banks is so dry, the United States no ability to repay the low-income, under normal circumstances is impossible to get loans, but after the investment banks and two rooms of packaging and the so-called financial innovation has become a high-yield bonds, high credit rating. While financial innovation through the dazzling after called MBS, CDS, CDO looks like these people talking brand name, but its intrinsic assets is junk bonds. This gold-plated Buddha with mud after posing as a reason to sell gold Buddha, gold Guangcan outside, inside is a pile of garbage. a group claiming to reports from the blog up called Zhao Baojie generous, responsible for the related bank if it is to be guest of honor, from loan officer to the business manager, and even the branches of the former leaders, are all forms of benefit. Working Group 15 responsible members, were asked to clear income of laid-off, do as the clear income of the decision on punishment. In the U.S. subprime mortgage crisis, Wall Street investment bank staff and executives, as well as two rooms of the Agricultural Bank loan officer to senior executives as business manager and president, Wall Street investment bank and two executives in the room of subordinated debt process was a great benefit, chairman of Lehman Brothers in testimony before Congress to be consulted, and its 2001 bankruptcy of Lehman Brothers in 2008 obtained during the period up to 3.5 billion dollars in compensation, two rooms were taken over the former executives also get astronomical salary, these people though, like with the Agricultural Bank of China-related responsibilities or because of bankruptcy or being taken over by business and laid off, but not subject to any penalty,air jordan, with a huge amount of wealth to enjoy life to go. Those who buy subordinated debt of banks, hedge fund executives who also got the astronomical compensation, the loss was only the last of these institutions investors. Some have questioned why these people have such high returns, mature people do not know no understanding of these internal, fraud is difficult to succeed, not just their high pay reflects the remuneration of their work, of which a considerable portion of the cost of corruption, there is no huge rewards Who the temptation to do a wicked thing? The source said, Chi Tat Group has in fact very good business conditions, cash flow guaranteed high-quality assets. However, the bank could recourse loans to these high-quality assets is unknown. Chi Tat Group one is the complexity of asset ownership, and frequent change, so that outsiders prohibitive; the other hand,christian louboutin uk, Chi Tat Group and local government are inextricably linked. This sub-prime crisis in the United States is similar to how the United States in fact there are many high-quality assets,ralph lauren, that is, as many of the sub-prime collateral real estate while prices continued to fall, it is still high-quality assets, subordinated debt investors of course, can not recover cable to these high quality assets, from subprime loans to MBS, CDS, CDO asset ownership of the complex, and frequent changes in the imagination far more than all, the sub-prime crisis, even before making the figurines of the investment banking and money to buy organizations are not sure what they are dealing with something inside asset value of the number, the two rooms is authorized by the government enterprise GSE. Fraud are quite different, but the methods are strikingly similar. be sure, the Chi-tat is not operating properly, but deliberately avoiding the debt. Articles written here, it is certain that the U.S. subprime mortgage crisis is not supervision, but the century terrible scam, the U.S. government as the owner of Chi, as the sub-prime real estate collateral are left intact in the U.S. local, and subordinated debt investors around the world, but go to waste money disappeared without a trace.相关的主题文章： 　　新华网呼和浩特7月25日电 但所谓 “物极必反” 甚至可以当做经典操作案例入选传媒大学的教材 government doesn't believe in climate change. The Argentine government practices what we call 'negation.' For one reason or another it follows those theories or political ideas that say that nothing has been proven convincingly enough for them to change their behavior, to change their policies. So their energy policy is simply more of the same."