英语作文范文:金融危机英语作文

写一篇以金融危机为主题的英语作文。

参考词汇:

金融危机:FinancialCrisis

参考范文:

WhatCausedTheFinancialCrisis?

Ithinkwecansumup(总结概括)thecauseofourcurrenteconomiccrisisinonewordGREED(贪婪).

Overtheyears,mortgagelenderswerehappytolendmoneytopeoplewhocouldntaffordtheirmortgages.Buttheydiditanywaybecausetherewasnothingtolose.Theselenderswereabletochargehigherinterestratesandmakemoremoneyonsub-primeloans.Iftheborrowersdefault,theysimplyseizedthehouseandputitbackonthemarket.Ontopofthat,theywereabletopasstheriskofftomortgageinsurerorpackagethesemortgagesasmortgage-backedsecurities.Easymoney!andwhatwentwrongwithourfinancialsystem?

Thewholethingwasonebigscheme.Everythingwasgreatwhenhousesweresellinglikehotcakesandtheirvaluesgoupeverymonth.Lendersmadeiteasiertoborrowmoney,andthehigherdemanddroveuphousevalues.Higherhousevaluesmeansthatlenderscouldlendoutevenbiggermortgages,anditalsogavelenderssomeprotectionagainstforeclosures.Allofthistranslatesintomoremoneyforthelenders,insurers,andinvestors.Unfortunately,manyborrowersgotslammedwhentheiradjustablemortgagefinallyadjusted.Whentoomanyofthemcouldntaffordtomaketheirpayments,itcausestheselenderstosufferfromliquidityissueandtositonmoreforeclosuresthantheycouldsell.Mortgage-backedsecuritiesbecamemoreriskyandworthlesscausinginvestmentfirmslikeLehmanBrotherstosuffer.

Moreover,insurerslikeAIGwhoinsuredthesebadmortgagesalsogotintrouble.Thescheme(体系,结构)workedwell,butitreversescourseandisnowcomingbacktohurteveryonewithavengeance.《英语作文范文:金融危机英语作文》由英语我整理,更多请访问:https://www.liuxue86.com/english/