金融危机的法制根源

Legal Causes of the Financial Crisis

摘要: 结合大量的数据,用理论联系实际的方法,剖析了美国有关法律制度的缺陷与不足,力求从法律的角度挖掘这次金融危机发生的根源,以便为我国金融法制建设提供经验和教训。文章指出贷款者保护法律的缺失造成了次贷的泛滥,资产证券化法律制度固有的缺陷又使得商业银行等信贷机构把自己制造的风险转移给了投资者,“信息披露”的证券监管法律模式使得金融衍生品交易过程中信息十分不对称。

Abstract: The U.S. subprime mortgage crisis has caused a global financial crisis which reflects that there are grave defects in the U.S. financial system and supervision.This paper focuses on the analysis of legal causes and effects of this world financial crisis. Some suggestions and lessons will also be supplied on China' s financial system and legal supervision.