What is the COC? I’ll tell you what it is. It’s the crisis of credit which has started to overwhelm the whole world!
The main issues of the crisis of credit are the sub-prime mortgage, the collateralized debt obligations, the frozen credit markets and the credit default swamps.
And the problem with that is that everyone is affected!
There are two groups of people in this world:
1.The home owners, who are in direct relation with mortgages, which are linked with their houses.
2.The investors, who are in direct relation with money, which are linked with large institutions (pension funds, insurance companies, mutual funds etc.)
These groups are brought together by the financial system, commonly known as Wall St.
The banks are connected to the houses, because the mortgage lenders hire brokers in order to convince people who want a house, to give a down payment and a monthly mortgage. A couple of days later the lender receives a call from the investment banker who wants to buy the mortgage. After he does that with thousand of mortgages, he receives the monthly payments from the homeowners. This amount of money is called “the collateralized debt obligations” (CDO). The banker decides now to sell the CDO to different kind of investors. On the other hand, if the owners of a new home decide to default, the investors end up with the house, but that’s not a problem as he can put it up for sale.
And because the houses’ value always grows and because everything goes so well, investors decide to take a risk and stop requiring down payments, or any proof of income, or any documents at all. So instead of lending to responsible home owners, called prime mortgages, they start getting people that are less responsible, called sub-prime mortgages.
And this is the turning point!
Not surprisingly, the home owners default on their mortgage, which at this moment is owned by the banker. This means that one of his monthly payments turns into a house. That’s not a big deal, because he puts it up for sale. The problem is that more and more of his monthly payments turn into houses and because there are now more houses for sale than is needed, their value starts decreasing.
This situation becomes a problem for the owners who are still paying the mortgage because they now see how the houses that are put up for sale become cheaper and cheaper and along with them, their house as well. This is the point when they start asking themselves why they’re paying the bank the $400.000 mortgage when their house values now only $190.000. As a result, they decide to default as well.
The banker remains now with a bunch of worthless houses and there’s no other investor who would buy his CDO, because he has already bought one from other banker and there’s nothing he can do with it now. On the other hand, the lender calls the banker, trying to sell his mortgage, but the baker obviously says “no” and the broker is now out of order.
The whole financial system is frozen! Everybody starts going bankrupt. This is the point when the investor calls the homeowner and tells him that his investments are worthless.
This is the way the crisis flows in a circle. But now is the moment when I come to tell you that there is still hope! If you order our “Wealth from crisis package” you’ll be able to surpass the COC and even become really rich!
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