Name: 見える化された信用の危機 その2 (The Crisis of Credit Visualized Part 2)
Uploaded: 2021-01-14T05:50:39.000Z
Duration: 3 min 45 s
Description: VoiceTubeの動画で発音を聞きながら英語表現を覚えよう！学べる英語：

程度の副詞

So, just like always, the mortgage broker connects the family with a lender,

and a mortgage. Making his commission, the family buys a big house,

the lender sells the mortgage to the investment banker,

and sells slices to the investors and others

this actually works out nicely for everyone and makes them all rich.

No one was worried because, as soon as they sold the mortgage to the next guy, it was his problem.

If the home owners were to default, they didn't care:

they were selling off their risk to the next guy and making millions,

like playing hot potato with a time bomb.

Not surprisingly, the home owners default on their mortgage,

which at this moment is owned by the banker.

This means he forecloses and one of his monthly payments turns into a house.

But more and more of his monthly payments turn into houses.

Now there are so many houses for sale on the market,

creating more supply than there is demand,

and housing prices aren't rising any more,

This creates an interesting problem for home owners still paying their mortgages.

As all the houses and their neighborhood go up for sale, the value of their house goes down,

and they start to wonder why they're paying back their $300,000 mortgage

when the house is now worth only $90,000.

They decide that it doesn't make sense to continue paying, even though they can afford to,

Default rates sweep the country and prices plumb.

Now the investment banker is basically holding a box full of worthless houses.

He calls up his buddy, the investor, to sell his CDO, but the investor isn't stupid

and says: "No, thanks". He knows that the stream of money isn't even a dribble anymore.

The banker tries to sell to everyone, but nobody wants to buy his bomb.

He is freaking out because he barreled millions, sometimes billions of dollars

to buy this bomb and he can't pay it back.

Whatever he tries, he can't get rid of it.

But he's not the only one: the investors have already bought thousands of these bombs.

The lender calls up trying to sell his mortgage, but the banker won't buy it

and the broker his out of work. The whole financial system is frozen,

the investor calls up the home owner and tells him that his investments are worthless,

and you can begin to see how the crisis flows in a cycle.

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見える化された信用の危機その2 (The Crisis of Credit Visualized Part 2)

crisis

guy

system

financial

見える化された信用の危機 その2 (The Crisis of Credit Visualized Part 2)

crisis

guy

system

financial

見える化された信用の危機その2 (The Crisis of Credit Visualized Part 2)