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Topic: The 2008 Financial Crisis
Part1: Video (1)
Vocabulary:
principal: (n.) the original amount of money borrowed (before interest)
interest: (n.) a percentage of the original investment or loan that is paid extra to the lender over time
default: (n./v.) failing to pay back a loan
third party: (n.) another institution or company not related to the two initial agents in a deal
have good/bad credit (score): (pattern) related to a score given to people related to how trustworthy they are for receiving loans
treasury bonds: (n.) a financial investment in the government for government spending, expecting a regular interest payment; often considered a safe investment
mortgage-backed security: (n.) a bundle of mortgages that can be sold (a security is a tradable financial asset)
gobble (something) up: (v.) similar to “eat up”; consume quickly or greedily
worst case scenario: (pattern) indicates the worst possible situation.
Part1: Video (2)
Vocabulary:
loosen (one’s) standards: (pattern) become less strict when choosing something
subprime mortgage: (n.) mortgages given to those who may not be able to pay it back
predatory practice: (n.) a technique or strategy that aims to gain advantage over people in a vulnerable position
balloon: (v.) increase or expand rapidly
(one’s) means: (n.) someone’s financial condition
collapse: (v.) drop abruptly.
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