Leir Center Financial Bubble Research Working Paper #7 2007-2009 Financial Meltdown William Rapp New Jersey Institute Of Technology In the Fall of 2007 the Dow Jones Industrial index reached an all time high over 14‚000. By November 2008 it had fallen under 8000. Other stock market indices worldwide including the high growth emerging economies of India and China saw similar or greater drops. Those predicting these economies had developed an Asian regional economy that would prove relatively
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Main features and the cause of recent financial crisis I Introduction On 5 March 2007‚ HSBC announced its 2006 annual result. Highlighted in the presentation material (HSBC (2007))‚ ‘Mortgage arrears in the US resulted in an increase in loan impairment charge from US$448 million to US$2‚171 million for Mortgage Services’. On 2 April 2007‚ as reported in BBC News1‚ ‘New Century Financial‚ one of the largest sub-prime lenders in the US‚ has filed for Chapter 11 bankruptcy.’ 1 On 6 August 2007
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FINANCE 307 LITERATURE REVIEW Student Name / ID: Chay Yu Xi 15907811 Jacqueline Teo Hui Yun 15805054 Ting Heng Huat 14973837 Tutor: Leo Kee Chye Tutorial Day / Time: Monday / 2pm Table of Contents Abstract The Tech Bubble Introduction Lowering of Interest Rates Adjustable Rate Mortgage Securitization Mortgage Backed Securities Collateralized Debt Obligation Credit Default Swap Government Reaction and Policies Emergency TARP Repercussions Basel Disadvantages
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according to research of Global Property Guide. Base on the 2011 census‚ Hong Kong has mainly three different kinds of flats‚ around 30% population are living in public rental housing‚ around 18% population are living in subsidized sale flat‚ around 50% are in private housing‚ and remaining 2% living in other kinds of housing. Background and history of Hong Kong Property Markets Before 1949‚ early stage of Hong Kong property market Started from 1841‚ the colony of Hong Kong has quickly become
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Subprime Mortgage Crisis The subprime mortgage crisis is a financial and real estate crisis that has been going on in the United States between the years 2007 and 2010. It began because of a drastic increase in mortgage delinquencies‚ foreclosures‚ failures in credit default swaps‚ saturation of the debt and real estate markets and reverse trading. All these parameters had an adverse effect on the financial markets and banks all over the world. In recent times‚ The United States witnessed a rise
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Eurozone is called the Euro area‚ started in 1998 and consist of 17 countries: Austria‚ Belgium‚ Cyprus‚ Estonia‚ Finland‚ France‚ Germany‚ Greece‚ Ireland‚ Italy‚ Luxembourg‚ Malta‚ the Netherlands‚ Portugal‚ Slovakia‚ Slovenia‚ and Spain. The Eurozone have adopted the common currency call the Euro. The monetary policy of the Eurozone is control by the European Central Bank. When I think about Eurozone‚ I often think of a powerful union consist of many rich countries; and there is not likely chance
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recessions‚ while bankruptcies and the unemployment rate rise.” 1 Recessions generally occur when there is a high drop in spending and usually following excess supply and decrease in demand‚ causing supply shock or the bursting of an economic bubble. This phenomenon can be easily understood from the previous demand and supply graph When the Supply increases dramatically‚ and the demand decreases dramatically‚ this is exactly when the Financial
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Mr. Zou‚ who did not get married until he bought a house when he was 35 years old‚ sold his house last year and earned an extra profit about 200‚000 RMB. In China‚ much more men did not get married because they did not own a house; however‚ housing price keeps soaring. According to National Bureau of Statistics of China‚ from 2001 to 2011‚ during the 10 years‚ the average selling price of commercialized buildings in China has increased 147% from 2170RMB to 5357RMB per square meter‚ especially
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and major advances in business software and efficiencies. The housing industry was a big benefactor of this new economy. Home prices began to rise again by 1996. The rate of home ownership during the 1970s‚ 1980s and the first half of the 1990s averaged 64.4 percent. The rate began to rise in 1995‚ peaking at 69.2 percent in 2004. New housing rebounded. The economic turnaround brought California -- hit especially hard by the last housing recession -- along with the rest of the nation‚ out of recession
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Background Information Bubble tea is originated in tea shops in Taiwan during the 1980s‚ which consist of pearl milk tea and other similar tea and juice beverages. The tea and the flavoring was shaken vigorously to produced frothy bubbles in the beverage. Bubble tea begins its international recognition spreading from Taiwan to other Asian countries before travelling to North America via the Asian community in Vancouver and the West Coast. Now bubble tea can be found across the country. The
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