Exposé sur la crise financière en Anglais 3813

Exemple de page de Exposé sur la crise financière en Anglais

Synthèse

Comprendre la crise financière mondiale

After the attack of September 11th, and because of the rates of variable interest in decline, began a piece of news gone up in the demand of immovable property, what engendered two financial bubbles: that of the real-estate market and that of the stock-exchange investments.

Originally, a simple need. Millions of poor households try to acquire an accommodation without having the means of it. The brokers propose then credits. The rates of loans are "reasonable" during the first years, but are then brought to increase. It is in fact the unselfish bodies which fix the rate of refund. These loans at variable rates, the famous " subprimes ", are then resold in capital

From the end of 2006, the households which had subscribed to "subprimes" are victims of the brutal increase of the rates of loans and cannot pay off any more their banks. Their houses are then seized to be resold. But the American real-estate market, quickly flooded by the quantity of the offer and in front of few demands, collapses.

· First consequence: the capital which had massively invests in "subprimes" meets itself trapped. In July, 2007, two capital of the investment bank Bear Stearns closes.

It is the beginning of the chain reaction which is going to get banks all over the world. The effects of both bubbles previously quoted continue to continue and the sensation of world economic crisis is visible and increases every day more on the ground.

The old proverb " we give only to the rich " takes here all its meaning. A bank which announces good results inspires the confidence of the investors, and we confide him some money. Banks thus lend themselves some money between them, and put back these sums in traffic on financial markets. With the beginning of the real-estate crisis in the United States, the banks, who possess quite more or less of titles implying "subprimes", Engage a real game of poker. Each knows how many "warm" titles she possesses, but ignores the contents of the port folio of her neighbour. Playing the card of the safety, they avoid giving to their colleagues, or then to very high rates. Number of establishments which depend on these interbank loans meets itself then weakened. It is this phenomenon which explains how the bankruptcy of the bank Lehman Brothers Pulled the fall of financial markets in its trail. The base of any behaviour of the financial community is the egoism, which always prefers the narrow personal interest to the general advantage, and which maintains the running after the wealth to the detriment of the others.

To face this crisis, the central banks of the various countries have only two measures at their disposal: · Change their intervention rate · inject some money in establishments in trouble ( nationalization ) or to the banks who acquire their bankrupt colleagues When a central bank lowers its intervention rate, she lowers the rate of loan of liquid assets to the