Assignment for next week. Each – pick a country Research what that country is doing to remedy problems raised by financial crisis. EXTRA CREDIT: prepare a synopsis of what you find. One page – bullet points!. OFFICE: Rm. 1047 [First Floor of this Building] Ofc . Hrs ?.
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OFFICE: Rm. 1047
[First Floor of this Building]
Seller owns an apartment bldg. – FMV = $3 mill.
Lender #1: 1st mortgage with = $1 million (bal. due)
Lender #2: 2nd mortgage = $400,000 (bal. due)
Judgment recorded vs. X in amt. of $100 k
Buyer - contracts to buy X’s bldg. for $3 million.
The Global Financial Crisis
Impact on other countries
originators with ties to Wall Street
firms and government-sponsored
enterprises (GSEs), like Fannie Mae and Freddie Mac.
to MBS entities.
Pass-Through SecuritiesCMO Issuer Individual Investors
backed securities with similar
maturity and cash flow patterns.
Caused global stock markets to plummet 2008/2009
Credit – tightened; trade slowed
taxpayers provided over
$180 billion to AIG (2008/09)