slammed when their adjustable mortgage finally adjusted.When too many of them couldn’t afford to make their payments,it causes these lenders to suffer from liquidity issue and to sit on more foreclosures than they could sell.Mortgage-backed securities became more risky and worth less causing investment firms like Lehman Brothers to suffer.Moreover,insurers like AIG who insured these bad mortgages also got in trouble.The scheme worked well,but it reverses course and is now coming back to hurt everyone with a vengeance.
风萧♂易水※ 回答采纳率:16.7% 2009-06-05 20:26