Subprime mortgages, financial crisis and real economy
That subprime crisis had an impact on real economy could imagine, but dared not speak. After the failures of banks and layoffs, it is up to the real estate and automotive.
In California, Mountain House, a town where 90 percent of homes worth less than the loan to be paid every owner has debts of at least 122 thousand dollars more than the value of the property.
Very striking fact, many of the people, according to the loan I, will be forced to pay an installment in 2015 an incredible 12 thousand dollars a month.
The CEOs of General Motors, Ford Motor and Chrysler have asked Banking Committee yesterday the U.S. Senate a plan to save the car.
The summits of the ‘Detroit Three Sisters’ rise to Capitol Hill to ask for immediate help, without which their survival is at risk. Explain to the Senate Banking Committee that the failure of one of the three companies could lead to a systemic risk.
Richard Wagoner: Here’s what the ad for General Motors, Richard Wagoner:
The damage to the economy would be far worse for that we need. It is not just to save Detroit: to save the U.S. economy, even at risk because there are 3 million jobs since the collapse of one of the trigger a domino effect.
In Europe the level of crisis that exists in America has not yet been felt, but let us not forget that situations of alarm have not spared the German bank IKB el ‘English Northern Rock.