英语翻译When the crisis erupted in August 2007,the investors who habitually bought commercial papers issued by the SIVs stopped buying them because they no longer had confidence in the health and credibility of the SIVs.Consequently the SIVs lack

英语翻译When the crisis erupted in August 2007,the investors who habitually bought commercial papers issued by the SIVs stopped buying them because they no longer had confidence in the health and credibility of the SIVs.Consequently the SIVs lack
英语翻译
When the crisis erupted in August 2007,the investors who habitually bought commercial papers issued by the SIVs stopped buying them because they no longer had confidence in the health and credibility of the SIVs.Consequently the SIVs lacked liquidity for buying mortgage bonds and the crisis worsened.The big banks that had created these SIVs had to honour SIV commitments to avoid them going bankrupt.While SIV operations had until then been below-the-line items (which allowed them to conceal the risks they were taking),big US and European banks were now obliged to show SIV debts on their balance sheets.Among these were Bank of America,Citigroup (the leading worldwide banking group),Wachovia,Morgan Stanley and Merrill Lynch,Deutsche Bank and UBS (Union des Banques Suisses).Between August and October 2007,US banks alone took on at least 280 billion dollars of SIV debts ,with serious bottom-line consequences.Several major banks such as Citigroup and Merrill Lynch at first tried to minimize their level of risk exposure,but their losses were so considerable that they could not conceal them for long.Chairmen were ejected,but not without a golden parachute.Merrill Lynch's chairman Stan O'Neal received 160 million dollars as compensation for his untimely departure!On the contrary,the CEO of the bank Goldman Sachs,Lloyd Blankfein,established the record for the highest bonus in 2007:68 million dollars,for record benefits and for the knack of having bought products that derived from the exploitation of the subprime crisis (which contributed to exacerbate the latter,according to some sources).Effectively,these scandalous sums reward anti-social,if not criminal,behaviours.
Indebtedness of households,defaults on mortgages and much more
In the United States,repossessions of mortgaged homes reached 180,000 in July 2007,over twice as many as in July 2006,and have passed the one million mark since the beginning of the year,that is,60% more than just a year ago.It is estimated that there will be 2 million repossessions in 2007.
Indebtedness in American households has reached an extraordinarily high level:140% (in other words household debts amount to almost one and a half times their annual income).Mortgage debts of households represented 95% of their income in 2005 (compared to 63% in 1995).This illustrates the enormous proportion of home-buying in household debts and consequently,the extent of the crisis that started in 2007.It will last many years.

英语翻译When the crisis erupted in August 2007,the investors who habitually bought commercial papers issued by the SIVs stopped buying them because they no longer had confidence in the health and credibility of the SIVs.Consequently the SIVs lack
当危机爆发于2007年8月,投资者购买商业报纸发布习惯性的siv停止购买它们,因为它们已经不再有信心在健康和信誉siv.因此siv缺乏流动性为购买的房产抵押贷款债券和危机恶化.大银行,创造了这些SIV有尊荣SIV承诺避免破产.虽然SIV行动之前,然后被线下的物品(允许他们隐藏的危险,他们都采取了),大的美国和欧洲银行现在必须向其资产负债表上SIV债务.以上这些都是美国银行、花旗银行集团(世界领先的地位,摩根-斯坦利和瓦乔维亚银行、德意志银行、美林、Banques Suisses瑞银(des).2007年8月到10月间,美国银行了至少单独的280亿美元的债务,伴有严重的最低限度的SIV带来的后果.几家主要银行,如花旗、美林起初想减少他们的水平,但他们的损失的风险是如此可观的,以致于无法掩饰他们长期的.董事长被驱逐,而不是一个黄金降落伞.美林证券公司董事长斯坦奥尼尔收到160万美元,以补偿他不合时宜的离开!相反,银行的首席执行官劳埃德·布兰克芬高盛的纪录,建立在2007年的最高奖金:68亿美元,为记录的技巧的好处,购买产品的开发,源自次贷危机(导致加重后者,根据一些消息).有效,这些可耻的巨额回报,如果没有犯罪,反社会行为.
债务的家庭,拖欠抵押贷款和更多的工作
在美国,抵押房屋收回率创历史新高,达到18在2007年7月,超过两倍于2006年7月,并通过了100万马克从今年年初以来,也就是说,60%的不止是一年前.预计将有2万的收回在2007年.
在美国家庭负债已达到前所未有的高水平幅度高达140%(换句话说家庭负债金额近一个半次年收入).抵押债务的家庭中95%的收入为代表的2005年相比,在1995年(63%).这说明了巨大的比例,因此在家居home-buying债务危机的程度,2007年开始.它会持续多年.