
COMPANY INTRODUCE
China Hongyang Group, is an integrated enterprise with the research & development, production and marketing of Fuel Dispenser and related accessories as well as service station concerning equipments. It concentrates on the relative manufacture & services of filling station such as Hongyang tax control Fuel dispenser, IC Card fuel dispenser, manage system of network for stations, submerge pump and liquid level devise. China Hongyang Group, designed supplier of SinoPec and PetrolChina, our HONGYANG products have been sold to over 50 countries in South-east Asia, Mid-east, Africa, Europe and well received in their markets.
we are committed to create the best workplace, encourage our staffs to put their own personalities into their jobs, and provide them a stage to show themselves.
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whom they will serve. They say they will plough more resources into vetting applications but, as Mr
Youngblood points out, this would raise their costs. There is no easy way out.
Moody s and other debt-raters have cast a worried eye over the market, placing subprime deals on watch
for a possible downgrade. Regulators are also twitchy. They have stepped up warnings about slack lending
standards.
Nerves are also jangling in the capital markets. These days large numbers of housing loans are moved off fuel dispenser
banks books, bundled together as so-called mortgage-backed securities (MBSs) and sold to investors. In
theory, this helps the banks to reduce risk, makes money for intermediaries who trade the securities, and
allows the investors to pick tranches of debt that match their risk appetite. Thanks to financial alchemy,
an MBS made up of low-quality loans can still enjoy a good credit rating.
If too many of the home loans backing the security are toxic,
however, investors will feel pain. That is happening now. The
ABX Home Equity 06-2 index, whose price reflects the market s
view of bonds rated BBB-minus backed by subprime loans made
earlier fuel dispenser this year, has fallen sharply since mid-November (see
chart). Hedge funds and others have been using derivatives to
short bonds backed by subprime mortgages.
Dubious mortgages are now a growing share of the mortgage-
backed market, so there is scope for more trouble. Of the $1.02
trillion of MBSs issued in the first half of this year, over 40% was
linked to subprime loans, up from 6-8% in 2000-03, says
CreditSights, a research boutique.
I fuel dispenser n a sign of how important the MBS market has become to Wall
Street s big securities firms, they are playing a lead role in
consolidating the subprime business. Since the summer, Morgan
Stanley, Merrill Lynch and Bear Stearns have all bought
mortgage lenders; Lehman Brothers has acquired several in the past three years.
The point of this “vertical integration�is to feed the banks securitisation desks,