house of cards 砂上の楼閣 (ABCニュースシャワー) - ほぼ毎日 英語学習日記 ~ 英語holic ~

house of cards 砂上の楼閣 (ABCニュースシャワー)

ABCニュースシャワー Today's News: 元ヘッジファンド幹部 起訴(08/6/20)
英語キーワード: house of cards「砂上の楼閣」


house of cards 砂上の楼閣

This was a house of cards, and sold the investors as being stable as the Brooklyn Bridge.



They told investors it was low risk. But the fund, which invested in volatile subprime mortgages, soon began to hemorrhage money.

・volatile【ボラトル】 不安定な、変わりやすい
・hemorrhage【モリッジ】 大損失をする、大出血する

■「サブプライムで米証券元幹部ら逮捕」 のニュース動画 | 06-20-2008


Two former Bear Stearns managers have been arrested in connection with the failure of a hedge fund that bet heavily on subprime mortgages.
Matthew Tannin was taken into custody outside his New Jersey home on Thursday, while Ralph Cioffi was arrested at his New York City home. They became the first executives to be criminally charged in the wake of the sub-prime market collapse.

An FBI official strongly condemned the practice of the executives, saying they had "prostituted their client trust in order to salvage their personal wealth".

Since the beginning of March, over 400 people have been arrested in a Justice Department crackdown on US mortgage fraud in a sting dubbed "Operation Malicious Mortgage".

・hedge fund ヘッジファンド(世界の金持ちや機関投資家から集めた資金を運用して高利回りを得ようとする国際投機マネー。大もうけすることもあるが、大損することもある。)

・in the wake of ~を受けて、~をきっかけに
・condemn【コンデム】 ~に有罪の判決を下す、~の刑を宣告する
・prostitute 金のために使う
・salvage【サルベッジ】 ~を救う、救済する