Apr
2
ilychoco asked:
I need the definition that has something to with the financial crisis:
I need the definition that has something to with the financial crisis:
sub prime mortage/loans
goverment intervention
“pork” / “pork barrel” spending
main st. vs. wall st.
foreclosure
HELP PLEASE!
Marilyn
Comments
7 Responses to “Can anyone give me the meaning of these words?”
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Harold
Are you trying to avoid reading the newspapers, Fortune Magazine, watching financial news, or searching the subject online? It’s all over the place.
Steve
You need to do your own homework. You learn by doing the work yourself. Also, if someone gives you an answer online, you have no idea if it is correct or not. Do your own work. It won’t take you long if you stop procrastinating and get started.
Julio
loan- when the bank gives you some money and you have to pay them back later plus interest
government intervention – when the government intervenes with something it doesn’t normally deal with – eg. wall st
pork barrel spending – when you spend a LOT of money on stuff you don’t need?
main st – off some tv show?
wall st – street in new york where most of the major world financial stuff goes on
foreclosure – ??
Earl
The common thread is the stupidity of greed caused all this economic un-doing. The dominoes are just starting to fall..
Check out this site for some good definitions:
or this one:
or this one, to see who profited most:
* I neither own stock in or endorse these sites! But they have good information.
Frank
sub prime mortage/loans – Subprime mortage crisis – The subprime mortgage crisis is an ongoing economic problem that became more apparent during 2007 and 2008, and is characterized by contracted liquidity in the global credit markets and banking system. The downturn in the U.S. housing market, risky lending and borrowing practices, and excessive individual and corporate debt levels have caused multiple adverse effects on the world economy. The crisis has passed through various stages, exposing pervasive weaknesses in the global financial system and regulatory framework.
– Subprime lending (near-prime, non-prime, or second chance lending) is a financial term that was popularized by the media during the “credit crunch” of 2007 and involves financial institutions providing credit to borrowers deemed “subprime” (sometimes referred to as “under-banked”). Subprime borrowers have a heightened perceived risk of default, such as those who have a history of loan delinquency or default, those with a recorded bankruptcy, or those with limited debt experience. Although there is no standardized definition, in the US subprime loans are usually classified as those where the borrower has a credit score below a certain level, e.g. a FICO score below 660. Subprime lending encompasses a variety of credit types, including mortgages, auto loans, and credit cards.
goverment intervention – Economic interventionism, is a common term used to describe any activity, beyond the basic regulation of fraud and enforcement of contracts, undertaken by a government in an effort to affect its own economy. Economic intervention can be aimed at a variety of political objectives, such as promoting economic growth, increasing employment, raising wages, raising or reducing prices, promoting equality, or addressing market failures.
Economic interventionism is generally associated with the political left (socialist, left-wing liberal or green parties) which believe that certain market outcomes are undesirable and ought to be mitigated. Economic interventionism is sometimes operated by national conservative parties to avoid that the free market can damage national traditions,social order or the authority of the state itself.
“pork” / “pork barrel” spending – In United States politics, the term “pork barrel” refers to the appropriation of government spending for projects that are intended primarily to benefit particular constituents or campaign contributors.
main st. vs. wall st. – As a figure of speech contrasted to “Main Street,” the term “Wall Street” can refer to big business interests against those of small business and the working or middle class. It is sometimes used more specifically to refer to research analysts, shareholders, and financial institutions such as investment banks. The idea of “Main Street” conjures up images of locally owned businesses and banks. While the phrase “Wall Street” is commonly used interchangeably with the phrase “Corporate America”, it is also sometimes used in contrast to distinguish between the interests, culture, and lifestyles of investment banks and those of Fortune 500 industrial or service corporations.
foreclosure – Foreclosure is the legal proceeding in which a mortgagee, or other lienholder, usually a lender, obtains a court ordered termination of a mortgagor’s equitable right of redemption. Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the owner the right of redemption if the borrower repays the debt. When this equitable right exists, the lender cannot be sure that it can successfully repossess the property, thus the lender seeks to foreclose the equitable right of redemption. Other lienholders can and do use foreclosure, such as for overdue taxes, unpaid contractors’ bills or overdue HOA dues or assessments.
The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property (immovable property) after the owner has failed to comply with an agreement between the lender and borrower called a “mortgage” or “deed of trust”. Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that “the lender has foreclosed its mortgage or lien”. If the promissory note was made with a recourse clause then if the sale does not bring enough to pay the existing balance of principal and fees the mortgagee can file a claim for a deficiency judgement.
Warren
sorry couldn’t get the meaning of some of them but -
pork barrel refers to the spending that is benefits the constituents of a politician in return for their political support, either in form of campaign constitutions or votes.
foreclosure is the legal in which mortgagee or lien holder usually a lender obtains a court ordered termination of a mortgagors equitable
right of redemption. These are the only words i know.
James
sub prime mortage
Subprime lending, also called B-paper, near-prime, or second chance lending, is the practice of making loans to borrowers who do not qualify for the best market interest rates because of their deficient credit history. The term also refers to paper taken on property that cannot be sold on the primary market, including loans on certain types of investment properties and certain types of self-employed individuals. Subprime lending is risky for both lenders and borrowers due to the combination of high interest rates, poor credit history, and adverse financial situations usually associated with subprime applicants. A subprime loan is offered at a rate higher than A-paper loans due to the increased risk.
Loan
1.a. Something lent for temporary use.
b. A sum of money lent at interest.
2. An act of lending; a grant for temporary use: asked for the loan of a garden hose.
3. A temporary transfer to a duty or place away from a regular job: an efficiency expert on loan from the main office.
pork
1. The flesh of a pig or hog used as food.
2. Government funds, appointments, or benefits dispensed or legislated by politicians to gain favor with their constituents: “However much [the voters] may distrust Congress and dislike pork, the advantages of being represented by an incumbent with seniority are hard to deny” Richard Lacayo.
foreclosure
The act of foreclosing, especially a legal proceeding by which a mortgage is foreclosed.