今年3月美国次级抵押贷款危机显现(本刊今年第4期有专门报道),然而当时并未引起国内市场的过多关注。事隔三个月,次级债危机引发全球主要金融市场连续暴跌,及至波及国内市场,至此次级债问题成为世人高度关注的焦点。那么,美国次级抵押贷款究竟是什么,怎么会有如此巨大的威力掀起市场狂澜?由此产生的风险将蔓延何处、持续何时?美国次级抵押贷款供应商和使用者早前为何青睐此类高风险产品,他们在危机爆发后将承受怎样的命运……?种种问题亟待释疑。为此,我们特别以较大篇幅组织了系列文章对美国次级抵押贷款做了全面的介绍分析,以便读者对此更加透彻了解。 In March this year, the subprime mortgage crisis in the United States appeared (Article 4 of this year’s special coverage), however, it did not cause much concern in the domestic market. Three months later, the subprime crisis led to a continuous plunge in the world’s major financial markets, affecting the domestic market. As a result, the sub-prime debt problem has become a focus of great concern to the world. So, what is the subprime mortgage loan in the United States, how could such a huge power set off a market turmoil? The resulting risk will spread where and when? US subprime mortgage lenders and users favor why Such high-risk products, what kind of fate they will bear in the aftermath of the crisis ...? All kinds of problems need to be solved. To this end, we have organized a series of articles with a large space to conduct a comprehensive introduction and analysis of the U.S. subprime mortgage loans so that readers can understand this more thoroughly.