| 30 Jan 2008 02:53 pm |
I created "The Pain Series". Now u die Rep: 17  Joined: 26 Sep 2005 Posts: 7,723 OFFLINE | That’s the extent of cumulative global financial losses owing to the subprime mortgage crisis.
[Source: The BBC]
[as of 30th Jan 08]
Americans should have been more careful while opting for mortgages.
Rest of the world should have been more thoughtful investing in those.
---
$133,000,000,000 Jesus must come back now! ************* 50% (votes so far 5) Wtf is a Subpime mortgage ? ********** 40% (votes so far 4) Cool! back to stone age y'all *** 10% (votes so far 1) Only registered users may vote.
“A few more “victories” and the U.S. will be bankrupt.“
Es ist hoffnungslos... | |
 |
| 01 Feb 2008 08:14 am |
|
| 02 Feb 2008 09:54 am |
I created "The Pain Series". Now u die Rep: 17Joined: 26 Sep 2005 Posts: 7,723 OFFLINE | sub = BELOW, WORSE THAN, NOT AS GOOD
prime = best
==============================================================
when you BUY MORTGAGE , YOU ARE AN ASSET TO THE BANK
The bank makes bonds on you , and everybody trades in it
but if u CANNOT REPAY IT, you become A “subprime” ASSET to the bank
and THE BOND THAT WAS MADE ON YOU, becomes a junk BOND
and WHOEVER HAS THAT BOND, has to “WRITE IT OFF” (as a loss)
CitiBank may write off some $ 24,000,000,000 soon enough and thats just for starters maybe
WORLDWIDE, such 'writeoffs' have been $130+ Bn so far...
and thats what is threatening to cause A WORLDWIDE RECESSION... worst since WW II
it means ppl will lose jobs, have less money, businesses will close down etc... fucked up i tell you
---
“A few more “victories” and the U.S. will be bankrupt.“
Es ist hoffnungslos...Last edited 02 Feb 2008 09:56 am by THE_PAIN | |
|
Post Reply |
Moderated by: Admins, Superusers
First ]
»
On-Topic
» $133,000,000,000
