packaged by listed rating agencies are only earn
Mortgage securitization, packaged by listed rating agencies are only earn not to compensate. Someone took the rating agencies equates to America’s bomb, bomb can destroy a country, the rating agencies can ruin your wealth, visible rating agencies power. However, the rating agencies oneself also want to earn money, you must with Wall Street investment Banks, securities firm collusion, Shape Ups give the risk is bigger financial products play in high quality label, which is caused by QuDong interests. Only rating is high, the product can sell very well, a rating agency, the commission will be also high. Moreover, the rating agencies will adjust the time intentionally rating pulled open, because, if the AAA yesterday evaluation today, discover a problem, adjusted for the AA level, the rating agencies own reputation will be low. So, the rating agencies are always in question occurred after bigger, they let the doctor. Under this background, the objectivity of the rating agencies, Skechers the supervision of natural lose consciousness in interests and is driven by almost non-existing, a rating agency, become the subprime crisis profiteering link one. Richard than in the U.S. mortgage industry Turner rigor for 14 years, he aimed at us subprime mortgage crisis has written a book, “greed, fraud and ignorance”, one of the words are like this: “if subprime loans made with chicken excrement company a plate of chicken salad, Skechers Shape Ups the rating agencies is to turn it into a French small steak.” However, the rating agencies obtained by the profits, and compared the subprime crisis of the whole loss, it isn’t.
Broker is dealing directly with the borrower individuals or small company, and they way of making money is very simple, a single loan application was closed after loan company according to their loan extraction commission. After that, if this single loan repayment problems occur, Shape ups Skechers theoretically brokers must bear the responsibility, in fact is difficult to implement to broker head. Therefore, brokers are basically no responsibility, only earn not to compensate. Moreover, the American government to broker almost no qualification threshold. This role will lead to broker a few questions: one is to cover credit is not high, reimbursement ability of poor borrowers get loans, 2 it is amplified value of the mortgaged property. For house for, brokers and housing value evaluation, resulting in between teaming up to Mbt shoes clearance 10% of the house value amplification moisture very normal, time a long, 10% of superposition, creates the illusion soaring property prices.
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