2008年美国金融危机分析 |
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of criteria. So we can see that the CDO is not stable and qualified, to some degree. But because of the deregulation and moral hazard, bankers didn’t care about the quality but the quantities. The investment banks sold the CDO to investors as possible as they can. In this way, when home owners pay thEir mortgages, the money went to the investors all over the world. At the same time, the investment banks paid rating agencies to evaluate the CDO, and many of them were given AAA rating. In this system, lenders didn’t care anymore about whether a borrower can repay, and the investment banks didn’t care EIther. The more CDO sold, the more profits they earned. Due to the moral hazard, the investment banks preferred subprime loans because they carried higher interest rates. This led to a massive increase in lending, and more and more borrowers were involved in expensive loans, but many of borrowers could not repay them. This system is just like a time bomb, which is the weap 上一页 [1] [2] [3] [4] [5] 下一页 |
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