Subprime and the potential collapse of the financial system
次贷危机与全球金融体系的颓局
1. Greed and Stupidity
贪婪与愚昧
2. Use of leverage to purchase derivative instruments
杠杆化在金融衍生产品购买过程中的作用
3. Lack of regulatory oversight of the derivative instruments as investments that were created and subsequently shifted onto the unsuspecting 3rd party investor
在金融衍生产品作为投资品种的创生及向第三方投资人转移过程中监督机制的缺失
4. Prostitution of rating agencies to rate their derivative instruments as investment quality investments when the underlying assets were sub-standard
评级机构给与金融衍生产品投资级评级,而该产品的基础资产实际应归为次级.
5. Refusal to accept mark-to-market accounting rules that would force them to give an honest assessment of their off balance sheet liabilities. They are insolvent. They are merely attempting to survive by delaying the day of reckoning (also delaying a meaningful and immediate economic recovery for the rest of us).
拒绝使用市值计价会计制度,得以逃脱对其表外负债给与诚实的评估.兵败如山倒实乃必然,不过在试图苟延残喘,拖延秋后算账的日子,(同时也拖延了包括我们所有人在内所期望的具有实际意义的经济快速复苏.)
6. Real Estate Market cycle and dynamics resulting from the financial crisis
金融危机对房地产市场周期及成长动因的影响
7. The Real Crisis that no one is thinking about!
你没有考虑到的真正的危机!