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However the crisis has made it really difficult to get credit or funds in the international financial markets.So the banks in our country may suffer because of the limited or no funding from overseas to finance their lending activities.
Secondly any negative impact on our main donors like Japan will reduce the amount of foreign aids we get in the future.
When those borrowers defaulted on their loans, it wasn’t only the initial lenders who got in trouble.
Through securitization, the initial lenders transferred those loans to other investors in the first place.
These individuals were only delighted to take up those offers with their unstable employment and income flows.
Unfortunately the economic conditions in US got worsened, and through mid-2004 to mid-2006, US Federal Reserve increased the interest rate repeatedly causing those borrowers to default on their loan repayments.