Global Financial Crunch

last week was the shocking week for the global financial market. BNP paribas biggest bank of the france blocked his two funds for repatriation of money, due to huge loss in investment in US sub prime lending market. The sub prime lending market is mortgage credit to borrowers, and due to provide credit to poor rating clients, they unable to make the repayment that credit and result losses. But all of this was not suddenly, this was raising since last 3-4 months when number of defaulter's were increasingly of repayment of mortgage loan and home loan. but till funds and institutions were managing them selfs and try to wipe off big mortgage loan from their accounts. and another side property rates were also showing downfall and result came as huge down fall in global stock markets. all most all major stock market tumbled significantly when BNP paribas freezed two of its funds due to huge loss relating to investment in US mortgage securities. with this shocking news all Europeans stock market fell sharply and as reaction Dow Jons and Nasdaq were also tumbled sharply. reason was only showing bad performance in mortgage and housing loans and mortgage securities in US. As a rescue measure taken by the ECB, it pumped billions of euros in the market in the expectation that other might have face same problems as BNP faced. Not only