美国次级债危机产生的原因、影响以及对我们的启示

The American Subprime Debt Crisis:Reason, Effect and Revelation

2007年8月,美国爆发次级债危机,在很短的时间内,次级债危机便迅速蔓延为席卷全球资本市场的一场危机。在美国次级债危机中,美国次级债供应商纷纷破产,全球对冲基金大面积宣布解散或停止赎回,跨国投资银行和商业银行普遍发出盈利预警,主要股票市场指数应声而跌。次级债危机对我们的启示是房地产市场的过热与崩塌,除了给我国的股市楼市带来危机以外,还会影响到我国的对外投资,影响我国金融体系的稳定。我们应借鉴国外成功的发展经验,在大力发展个人住房抵押贷款业务的同时,通过信用评级、债务评级、政府担保、保险等诸多手段加强贷款风险的管理与防范。

In August, 2007, subprime debt crisis broke out in America. In the very short time, the subprime debt crisis rapidly spread to the capital markets all over the world. During this crisis, the American Subprime debt supplier went bankrupt one after another and the hedge funds announced dismissing or the stopping redeeming. The transnational investment banks and the commercial banks sent out pre-alarm of payoff and the index of the main stock markets fell rapidly. The revelation from the subprime debt crisis is： the overheat and dilapidation of the real estate market not only brought a crisis to our country＇s stock market, but also affected foreign investment and stability of the financial system of China. We should learn the successful experience from the other country, while develop individual housing mortgage loan, we should also use methods such as credit evaluation, debt evaluation, government guarantee, insurance and so on to enhance the management and defense of loan risks.