Securitization, with all of its advantages in sharing risk, has three problems that were not adequately anticipated. While it meant that American banks were not hit as hard as they would otherwise, America’s bad lending practices have had global effects.
证券化在分担风险方面虽然有其优势，但也存在三个让人没有充分认识到的问题。尽管这意味着美国的银行所遭受的打击还不算最坏，但美国的不良贷款方式却已经产生了全球性的影响。