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2007年下半年以来,美国次级贷款危机所引发的全球性金融动荡一直余波未息。这使我们深刻体会到金融活动的全球化与金融风险的全球化的相伴相生。危机使得参与其中的美林、摩根和贝尔斯登等国际投行巨头损失惨重。此次危机之所以能造成如此大的损失,究其原因主要是源于对金融创新的过分运用以及对风险的忽视。虽然在此次危机中,我国受到的影响和牵连不大,但危机造成的严重后果却给我们敲响了警钟。未来我国在住房抵押贷款乃至抵押贷款的资产证券化相关制度设计方面必须注意防范相关金融风险及其传导。
Since the second half of 2007, the global financial turmoil triggered by the U.S. subprime crisis has been unfinished. This gives us a profound understanding of the globalization of financial activities and the globalization of financial risks. The crisis caused the international investment banks such as Merrill Lynch, Morgan and Bear Stearns suffered heavy losses. The reason why this crisis can cause such a big loss is mainly due to the excessive use of financial innovation and neglect of risk. Although our country has not been affected and implicated in this crisis, the serious consequences of the crisis have alarmed us. In the future, China should take precautions against the related financial risks and their conduction in the design of relevant systems of asset-backed securities such as home-equity mortgages and mortgages.