[View] [Records] [Upgrade] [Edit]
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sub Prime Crisis
"Can you lend me some energon ?"
Level 1 Autobot
| Team: | We, Robots |
| Commander: | Bumblebeast |
| Faction: | Autobot |
| Level: | 1 |
| Total XP: | 18,679xp |
| Weapon: | |
| Doing: | Inactive |
Sub Prime Crisis' Bio
Sub Prime Crisis is an ongoing energon crisis triggered by a dramatic rise in decpeticon attacks and foreclosures in Cybertron with major adverse consequences for banks and financial markets around the planet. The crisis, which has its roots in the closing years of the 220th century, became apparent in 2005 (earth years) and has exposed pervasive weaknesses in the energon industry regulation and the universal financial system.
Many Cybertron mortgages issued in recent years are Sub Prime, meaning that little or no downpayment was made, and that they were issued to autobots with low incomes and assets, and with troubled credit histories. When Cybertron's house prices began to decline in 2006-07, decepticon attacks soared, and securities backed with subprime mortgages, widely held by financial firms, lost most of their value. The result has been a large decline in the capital of many banks and Cybertron sponsored enterprises, tightening credit around the Universe.
Sub Prime Crisis' recent battles
|
|
|||||||
