The recent turmoil in global financial markets – and the liquidity and credit crunch that followed – raises two questions: how did defaulting sub-prime mortgages in the American states of California, Nevada, Arizona, and Florida lead to a worldwide crisis? And why did systemic risk increase rather than decrease in recent years?
最近全球金融市场的动荡以及随之引发的流动性和信贷的紧缩向我们提出了两个问题：美国加利福尼亚、内华达、亚利桑那和佛罗里达州次级抵押贷款拖欠现象是怎样引发全球性的危机的？以及为什么最近几年系统性的风险是增加了而不是减少了？