clubsummer
To understand how we got into this, it's important to first know how to mortgage system used to work qualified buyers work the lenders to get a loan, mortgage broker will sell the loan onto bank and the bank hold on to it life of the loan or sell it to an investment bank that investment bank could bundling with thousand of other mortgages to create a larger asset they could use even more money this is known as assets bag security. But thing began change in 2000, the .com bubble burst and to help prevent recession the FED aggressive lower the interest rates, lower interest rate meant more people could afford buy a house so house demand went up and its prices and velues. Higher home prices and abundance buyer brought in lots of money, and lure even greater profit and tight slender to take on more risk with thier mortgage loan products. Once fairly rare adjustable rate mortage and interest only loan became popular as long as home value rising buyer could refinance before the high rates kicked in. Home equity loan let owners take money from equity in their home with the asumption that ever increase property value would cover the loan. Risker still with sub-prime loans mortgage made borrower with low credit score, this borrower paid bigger fees and higher interest rates, because the lender assumed a greater risk for the fault. Problem is mortgage brokers earn the fee from the bank for selling the loan but have little incent to maintain credit standards because it was the bank actually fund the loan. From 2002 to 2007 banks (underroad) 3.2 trillion sub-prime loans. Now instead qualified stable mortgage going into asset bag securities there more and more vulnerable sub-prime loans mixed in the asset bag security supply continue to grow by 2006 it soars 888 billion dollars. Investment bank use asset bag security collateral to borrow money and it's profit find from everything from credit card companies to retirement accounts, this securities were only as good as the mortgage themselves, and in 2006 a series event start to unfold. Mortgage interest rates rolls and housing prices start to fall. The month payments on thousands sub-prime loan increase substantially, home owner couldn't pay and couldn't qualified to refinance, people own more than their houses were worth mortgage fall way up, during 2007 near 1.3 million US homes were subject to closure, by august 2008 nearly 1 in forth sub-prime loans had to faultied. The value of asset bag security is nose dive and bank were no longer able to borrow against billions dallars tight up in this assets the result credit grid lock, the cash flow need to keep the economy working was drying up and bring down Wall Street. Main street were soon feel the effects, credit for auto, home and student loans will be harder to get and cost more, The federal government has taken drastic methods, 700 billion dollars tax payer money will used buy the troubled assets bait out the banks and hopefully prevent total collapse of US economy.
范范20130108
change，英语单词，动词、名词，作动词时意为“改变，转变，（使）不同；（使）变换；替代，更换；交换；货币兑换；将……换成零钱；退还”，作名词时意为“变化，改变；替代物；换洗衣物；零钱，硬币；换乘；全新体验；新月相的出现”。
基本用法
名词
1.change作“改变,变化”解时是可数名词。
2.change作“找回的钱”解时,其前不加冠词,是不可数名词; 作“零钱”解其前加定冠词the,是不可数名词。
3.change后可有of短语或动词不定式作定语来修饰。
4.在a change of air, a change of address, a change of heart等短语中, of后的名词前都不加冠词。
动词
1.change的基本意思是使事物变得与以往不同,指事物发生了本质的变化或指一事物取代了另一事物。
2.change可用作不及物动词,也可用作及物动词。用作及物动词时,接名词或代词作宾语,可用于被动结构; 用作不及物动词时,可表示“改变; 换衣; 换车”。
3.change作“兑换零钱”解时,偶尔可接双宾语。
4.change宾语后面接介词for,表示“(以…)换…”,动词宾语和介词宾语都为物。接介词into,表示“将…变成…”,动词宾语和介词宾语可为人、物或事。接介词into或to,介词宾语为衣服时表示“换上”; 介词宾语为人、物或事时表示“变成,换成”。接介词with,动词宾语为物(表示物的名词需用复数),介词宾语为人,表示“与某人交换…”。
MichaelShaoer
change的英语意思有多种，其中最常见的意思是：改变，变化。即，使事物变得与以往不同,指事物发生了本质的变化或指一事物取代了另一事物。
change作“改变，变化”解时是可数名词；change作“找回的钱”解时,其前不加冠词，是不可数名词；作“零钱”解其前加定冠词the，是不可数名词。change可用作不及物动词，也可用作及物动词。用作及物动词时，接名词或代词作宾语，可用于被动结构；用作不及物动词时，可表示“改变；换衣;；换车”。change作“兑换零钱”解时,偶尔可接双宾语。
