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Rolle der Ratingagenturen bei der Strukturierung von Collateralized Debt Obligations

Rolle der Ratingagenturen bei der Strukturierung von Collateralized Debt Obligations

          
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About the Book

Studienarbeit aus dem Jahr 2012 im Fachbereich BWL - Rechnungswesen, Bilanzierung, Steuern, Note: 1,0, Hochschule für Technik und Wirtschaft des Saarlandes, Sprache: Deutsch, Abstract: Die Finanzindustrie zusammen mit der Atomindustrie sind die am strengsten und dich-testen geregelten Wirtschaftsbereiche überhaupt. Trotzdem kam es Mitte des Jahres 2007 zur Krise am amerikanischen Markt, welche sich schnell auf die internationalen Märkte übertragen hat. Binnen weniger Monate traf diese Krise eine Reihe von Baufi-nanzieren, Investmentbanken wie Lehman Brothers, Bear Stearns und noch viele an-dere. Daneben sahen sich andere Banken, Versicherungen und Investmentfonds ge-zwungen hohe Beträge abzuschreiben. Schlagartig wurde den Beteiligten klar, wie unberechenbar die Papiere in ihren Portfolios tatsächlich waren. Das Vertrauen der Banken untereinander wurde stark in Mitleidenschaft gezogen, sodass selbst Tages-kredite abgewiesen wurden. Daraufhin nahmen Notenbanken Milliardensummen in die Hand, um den Geldkreislauf Aufrecht zu halten und die Geschichte nahm ihren Lauf. Aber wie konnte es überhaupt zu einer derartigen Situation kommen? Begonnen hat dies mit dem "Immobilienboom" in den USA. Durch die Niedrigzinspolitik der US-Notenbank Federal Reserve (FED) herrschte ein Überangebot an "billigem Geld". Dies führte dazu, dass selbst Kleistverdiener sich plötzlich den Traum vom Eigenheim erfül-len konnten. Es wurde angenommen, dass sich das Risiko durch die Wertsteigerung der Immobilien gering halten würde. Auch wurde außer Acht gelassen, dass die Zinsen anders wie in Deutschland nur für eine kurze Zeit festgeschrieben sind. Das heißt, wenn diese wieder angehoben würden, steigt das Risiko, dass die Schuldner ihren Verpflichtungen nicht mehr nachkommen können. Kurze Zeit später kamen die Banken auf die scheinbar geniale Idee ihre Risiko zu minimieren, indem sie die Immobilienkre-dite zu Wertpapieren schnürten und die Anteile daran verkauften. Bei diesem Unter-fangen wurden s


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Product Details
  • ISBN-13: 9783656136484
  • Publisher: Grin Verlag
  • Publisher Imprint: Grin Verlag
  • Height: 210 mm
  • No of Pages: 40
  • Series Title: German
  • Weight: 68 gr
  • ISBN-10: 3656136483
  • Publisher Date: 02 Mar 2012
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 3 mm
  • Width: 148 mm


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Rolle der Ratingagenturen bei der Strukturierung von Collateralized Debt Obligations
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