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Group: Allen Chen Dan Chen Robin Thieu Wendy Chen
Created by Robin Thieu, 2008 Fall
What caused the financial industry crisis? <ul><li>Congress:  for overzealously pushing homeownership </li></ul><ul><li>Fe...
The Debt Trap Source : The New York Times
Financial Ratio Created by Robin Thieu, 2008 Fall
Created by Robin Thieu, 2008 Fall House Income Mortgage Lenders (Countrywide, Indy Mac, Fannie & Freddie) Banks ( Citibank...
Macroeconomic Analysis Created by Robin Thieu, 2008 Fall
GDP and housing market  Source : The Federal Reserve
Mortgage Rates Source : Federal Home Loan Mortgage Corporation's (Freddie Mac)
Home Price Indices Source : Standard & Poor’s
Total Subprime Mortgage Originations Growth
Homeowners Equity vs. Mortgage  Source : The Federal Reserve
Unemployment Rate Source : State of the USA and BBC
US Homeownership Rate Source : State of the USA
Macroeconomic Analysis <ul><li>Observations </li></ul><ul><li>- Housing bubble is pushed much higher than the GDP growth  ...
Macroeconomic Analysis <ul><li>Observations </li></ul><ul><li>- The growth of subprime mortgage results in homeowners’ mor...
Mortgage Lenders & Banks Created by Robin Thieu, 2008 Fall
Making MBS Source: The website of  the Wall Street Journal  ,  http://online.wsj.com/public/resources/documents/info-flash...
Making MBS Source: The website of  the Wall Street Journal  ,  http://online.wsj.com/public/resources/documents/info-flash...
Making MBS Source: The website of  the Wall Street Journal  ,  http://online.wsj.com/public/resources/documents/info-flash...
Fannie Mae Source : Analyticalwealth.com
Mortgage Default Source : The New York Times
Stock price of FNM Source : Thomson Financial
FNM’ net losses in holding MBS
Citigroup <ul><li>11.7 billion wrote-off, in Q2 2008 </li></ul><ul><li>55.1 billion write down in total asset </li></ul>
Where AIG went wrong <ul><li>Exposed to the U.S housing bubble: </li></ul><ul><li>Mortgage insurance </li></ul><ul><li>ABS...
Investment Banks <ul><li>Business Model </li></ul><ul><li>The Process of Making CDOs </li></ul><ul><li>Risk Factors and Ri...
Investment Banks Created by Robin Thieu, 2008 Fall
Investment Banks <ul><li>The Process of Making CDOs – Create CDOs based on MBS </li></ul>Source: The website of  the Wall ...
Investment Banks <ul><li>The Process of Making CDOs – Cut it slices and then issue bonds </li></ul>Source: The website of ...
Investment Banks <ul><li>The Process of Making CDOs – the relationship between Slices Rating and interest payments  </li><...
Investment Banks Source: The website of  the Wall Street Journal  ,  http://online.wsj.com/public/resources/documents/info...
Investment Banks <ul><li>Risk Factors  </li></ul><ul><li>- Fare Value of Subprime Mortgage Loan  </li></ul><ul><li>- The C...
Investment Banks <ul><li>The Future of Investment Banks </li></ul><ul><li>In the Short – term  :  </li></ul><ul><li>the ex...
Credit  Crunch <ul><ul><li>less funds available </li></ul></ul><ul><ul><li>more expensive cost of capital </li></ul></ul>“...
Credit Manipulation Created by Robin Thieu, 2008 Fall
<ul><li>Thank you very much. </li></ul>PQ + CQ > IQ
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Fannie Mae Source : Analyticalwealth.com Subprime Mortgage Crisis 2008

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Fannie Mae Source : Analyticalwealth.com

Publié dans : Économie & finance, Business
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