Titlebook: China and the Mortgaging of America; Economic Interdepend Helen Thompson Book 2010 Helen Thompson 2010 Asia.China.interdependence.USA.us po

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2662-2483 s, Fannie Mae and Freddie Mac. This book explains how that crisis came about, and analyzes the consequences and implications.978-1-349-31851-3978-0-230-28330-5Series ISSN 2662-2483 Series E-ISSN 2662-2491

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Introduction,at they could not meet. Between them they owned or guaranteed around 50 per cent of all American mortgages and they had $5.4 trillion of liabilities in securities and bonds. Their primary creditors included the Chinese and Japanese central banks. These two central banks had purchased the two corpora

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Fannie Mae and Freddie Mac and the Mortgage Boom,d three times the size of any that had hitherto occurred in the housing market in the United States and perhaps the largest bubble of any asset in history.. This new found housing wealth sustained not only large-scale new lending but also a huge re-mortgaging market as households used the equity in

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Railways and the British Economy, 1830-1914d rising prices to refinance at any time when they were unable to service their loans. Once prices began to fall, potential new sub-prime borrowers became a credit risk, and lenders denied a restructured loan to those who could not meet their monthly payments and foreclosed on their homes. Meanwhile