Loans And Mortgages Information

Beginning in 2006, with the growing crisis in the U.S., has begun to lose jobs and wages. People began to stop paying the mortgage rate and the economic system is jumped by the banks continued to lend to people at high risk of insolvency by giving subprime mortgages, literally “below the ideal.”

Since I have come to the surface of the first default of certain companies and hedge funds that have Americans focus on the subprime sector, the stock exchanges worldwide have suffered violent shocks, due to the crisis in the U.S. real estate sector.

The subprime mortgage crisis has affected all markets that have lost millions of dollars. Since the beginning of l Fbi has investigated 14 financial institutions for the scandal of loans to entities that could not be viable.

Even in Italy, the crisis has been felt. In 2008 the chairman of Consob Lamberto Cardia in its annual report said:

We are experiencing a period of great uncertainty for the integrity and stability of the financial system. The time is ripe for a revision of the system and of the Supervisory Authority also to put an end to situations of uncertainty and the risks of duplication of effort.

According to the President, we need a reform of Consol to simplify the regulatory framework of financial transposing the EU directives and the reform of savings. At this point it is natural to ask: Why are the institutions responsible for inspections have left to do? Where the credit rating agencies?