关于金融危机的英语文章要求有介绍,危害,

关于金融危机的英语文章要求有介绍,危害,
关于金融危机的英语文章
要求有介绍,危害,

关于金融危机的英语文章要求有介绍,危害,
What Caused The Financial Crisis?
I think we can sum up the cause of our current economic crisis in one word — GREED.Over the years,mortgage lenders were happy to lend money to people who couldn’t afford their mortgages.But they did it anyway because there was nothing to lose.These lenders were able to charge higher interest rates and make more money on sub-prime loans.If the borrowers default,they simply seized the house and put it back on the market.On top of that,they were able to pass the risk off to mortgage insurer or package these mortgages as mortgage-backed securities.Easy money!
and what went wrong with our financial system?The whole thing was one big scheme.Everything was great when houses were selling like hot cakes and their values go up every month.Lenders made it easier to borrow money,and the higher demand drove up house values.Higher house values means that lenders could lend out even bigger mortgages,and it also gave lenders some protection against foreclosures.All of this translates into more money for the lenders,insurers,and investors.Unfortunately,many borrowers got slammed when their adjustable mortgage finally adjusted.When too many of them couldn’t afford to make their payments,it causes these lenders to suffer from liquidity issue and to sit on more foreclosures than they could sell.Mortgage-backed securities became more risky and worth less causing investment firms like Lehman Brothers to suffer.Moreover,insurers like AIG who insured these bad mortgages also got in trouble.
The scheme worked well,but it reverses course and is now coming back to hurt everyone with a vengeance.
The effect of the global financial
The international financial crisis is becoming more and more worse,the impact on the Chinese economy is also further expansion,it even extended into every aspect of society.For example,manufacturing,energy,food,IT… and so on..
From the news,many international companies went bankrupt,and more companies begin to lay off employees,also cancelled the original recruitment plan.Around us,many people can not find a job.
This is a global economic crisis,no one can disregard .Facing the crisis,We can only helpless?No way.Everything has two sides.The financial crisis also let investors concer about the long-term growth prospects field.For example,the field of new energy.It also provides China opportunities of increasing the input of new energy.
We will use their wisdom,potential,and find the way to overcome it.This is the only way to minimize crisis,also can be safely in this crisis.
各有侧重,自己选择