美国次按贷危机剖析

Analysis on the Sub-prime Mortgage Crisis in the US

随着美国住房价格逐渐回落,利率不断上升,次贷的借款人越来越难以按期偿付贷款,导致次贷及相关的证券投资产品损失严重,一些贷款机构、投资银行、对冲基金纷纷出现巨额亏损,甚至倒闭,由房价引发次按贷危机的爆发。次按贷危机暴露出评级机构对结构性金融产品信用评估体制上的缺陷和中间人的道德风险严重。次按贷危机对全球各种金融产品价格产生很大的冲击,并从各个方面都对全球经济产生了深远的影响。

Owing to house price slump and interest rising in the US, more and more sub-prime mortgage borrowers plunged into difficuhy to pay off their loan in time, which caused the sub-prime mortgages and the relevant investment products serious lose. As a result, some loan institutes, investment bank and hedge funds suffered huge loses, even went to bankrupt. Sub-prime mortgage crisis was ignited with housing price slump at last. Sub-prime mortgage crisis exposed the disfigurement in credit apprising system for structure financial products and serious moral hazard of middle man. Sub-prime mortgage crisis stroked the price system of various financial products all over the world and brought global economy with farreaching effects in various aspects.