U.s. Subprime Mortgage Crisis And Its Effect On China's Financial Regulation

Subprime mortgage crisis broke out on the beginning of 2007. Now it has been developing to a financial storm and affecting the main financial markets of the world, such as America, Europe and Japan. Make a deeply research on the crisis, has very important meanings both in the theory and in the practice.This thesis starts from the brief introduction of economic history of America. Then analysed the origin, development and the effects of the crisis; the cause of the crisis; and the revelations we can get from it.The first chapter mentioned the background of American history and economic conditions before the crisis; the developing process of the crisis; and the affections to the world of economy. In this chapter, the developing process of the crisis is the most important part. In this part, many financial productions relate to the crisis were introduced, and the developing process, the theory of the crisis were explained in kind of easy way.In the second chapter, the thesis made a further explanation of the crisis cause from the viewpoint of both subjective and objective. First listed the important actors in the crisis, analyzed their subjective faults. Then made a basic explanation of the leverage, hedging and the weak supervision which were considered as the objective reasons of the crisis.From the third chapter, the revelations from the crisis could be read of. It is hoped that our financial supervisors could get some experience from the lessons of the crisis. In this part, the personal rebounding responsibility in the construction of the professional morality and some principles to the supervision of financial innovations are something new.