rder to get ? loansР●Higher interest? rates for loansРMortgage ?Cash Flow ?DeclinesРHousing ?bubble started?to balloon and ?when it burst….РExcessive use ?of credit and ?debt leverageРEasy credit ?encouraged ?weaker ?borrowers to?assume ?mortgagesРFED lowered ?interest rates ?sharply since?2000РSubprime Mortgage CrisisРTheme of the TextРThis story focuses on the real cause of the Subprime Mortgage Crisis in America. Contrary to general views, the author believes the crisis was triggered by a deep cultural predisposition (倾向) that leads to the Americans’ fascination with bigger and bigger houses which tend to label the big property owners essful. Therefore, instead of placing blame on Wall Street firms, he concludes the American people themselves are the culprits behind the economic crisis.
全文预览
