The three reasons for economic crisis

소개글

경제위기가 온 3가지 이유에대해 쓰여진 에세이 입니다

목차

Intro

paragraph 1-house bubble
paragraph 2-sub-prime
paragraph 3-investors` dishonest

Conclusion

본문내용

Since 2008, the economy sank into the first recession in over a decade. Many countries have been in an economic recession, and many economists have analyzed the reasons for economic crisis. The recession led to the house bubble, sub-prime mortgage, and investors’ dishonesty.
First of all, the house bubble started with the prime mortgage. The prime mortgage is for people who are qualified to pay mortgage monthly. For example, if a family wants to purchase a house, they contact a mortgage broker. Then, the mortgage broker connects them to a mortgage lender who gives the mortgage to the family. Finally, the family gets the house. However, many mortgage lenders sold their stake to investment bankers, and they were able to make money. In addition, the investment banker bought thousands of mortgages to get more money. And then they sold mortgages to the other investors at a good price.

참고 자료

http://vimeo.com/3261363?hd=1