2007年爆发于美国的次贷危机在2008年下半年演化成一场席卷全球的金融危机。危机对全球金融市场、实体经济以及国际格局造成的深刻影响促使人们不得不深入反思这场危机背后的缘由。追根溯源,沿着危机的传导链,危机产生的内在机理逐一浮上台面。起初,人们指责华尔街金融从业者的贪婪、贷款机构审慎审查的缺位、美联储的 The subprime mortgage crisis that broke out in the United States in 2007 evolved into a global financial crisis in the second half of 2008. The profound impact that the crisis has on the global financial markets, the real economy and the international pattern has forced people to deeply reflect on the reasons behind the crisis. Tracing the source, along the chain of transmission of the crisis, the inherent mechanism of the crisis one by one onto the stage. Initially, people accused Wall Street financial greed, lack of cautious review of lending institutions, the Federal Reserve’s