분야
ppt2. IMPACTS (Domestic)-Where it is now..
3. IMPACTS (International - GREECE)-Where it is now…
4. NORMATIVE EVALUATION-”So, how was it?”
1-1. Public Standing on the economy
1-2. Public Standing on the economy
2-1. The Administration’s policies
2-2. The Administration’s policies
House price decreased in the range of 5 to 17 %
in 2008
Adjustable rate mortgages (ARM) increased sharply.
9.2% of all U.S. mortgages were either delinquent of in foreclosure
Bank losses
Several subprime lenders declared bankruptcy, announced significant losses, or put themselves up for sale.
Fall of municipal bond insurance companies
Standard and Poor's downgraded monoline bond insurers AMBAC and MBIA from AAA to AA.
Government & industry responses
Monetary policies;
1)Federal reserve lowered interest rates (5.75 to 2.25%)
2)and increased lending
Governmental policies;
1)two fiscal stimulus packages,
2)massive liquidity provision(TARP)
3)prompt intervention to resolve weak institutions
(Fennie &Freddie, Bear sterns, AIG)
