The Cause, Influence and Strategies of Financial Crisis
1. Preface
2. The Main Elements of Financial Crisis Appearance
2.1 The Information Incompleteness Theory of Financial Market
2.2 Loan Interest and Risk
2.3 The Over Debt Financing of Enterprise
2.4 The Assets Degradation of Non-financial Department
2.5 The Analysis of Financial Crisis
3. The reason Analysis of US Sub-prime mortgage Crisis
3.1 The Background of Sub-prime mortgage Crisis Appearance
3.2 The Free Condition of Loan and continuous increasing House Bubble
3.3 The Abuse of Financial Derivatives in Wall Street
3.4 The Radical Financial Policy in Wall Street
3,5 The out-of-duty of Supervision Body and Policy fault
3.6 The out-of-duty of Credit Rating Agency
3.7 The Handling Analysis of the Crisis of US Government
3.8 The Function Failure of Financial Media
4. The Development Trend of Global Economy after Financial Crisis
4.1 The Lingering in the Bottom of Global Economy
4.2 The Weakness of US Dollar
4.3 The Global Inflation
4.4 The Fast Restructuring of Global Industrial Structure
5. The Reform of Financial System
5.1 The Duty of Financial Institutions
5.2 The International Standardization of Accounting Rule
5.3 The Establishment of Financial Law System
5.4 The Establishment of Information Release System of Financial Institutions
5.5 The Risk Reduction of asymmetric information of Financial Market
5.6 The Restraint of Man Monopoly and maintenance of Economy Balance
5.7 The Control and Supervision of Trust Trade
5.8 The Establishment of Solution System of Financial Market Crisis
6. Conclusion
7. Reference
John Maynard Keynes, a UK economist, has said that "Comparing with the Great Depression in 1929 in history, it is equivalent to the darkness
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times which have lasted for almost 400 years. " during the two historic period, there is at least one similarity, that is to say, people have suffered from the disaster. But they have puzzled the real reason. The Great Depression in 1929 can be regarded as the most serious event in the commercial history of mankind. Nevertheless, After 80 years later, US has been involved in the sub-prime mortgage crisis. But the economics scholars have argued that the current situation is worse than that in 1992. In a short time, the financial magnates such as Bear Stearns, Freddie Mac, Fannie Mae, Lehman Brothers, Merrill Lynch, Goldman and AIG have slipped into the bankruptcy. Among US five investment banks in global capital market, only Goldman and Morgan stanley are still suffering from the pain of financial crisis. People can't help questioning that what results in the financial crisis ? In the thesis, the elements analysis of financial crisis such as the information incompleteness of financial market, the economy influence from loan scale, the degradation of economy foundation, the currency chain scission from crisis psychology expectation will be analyzed at first.
Reference ：
Statistics Department (2001). "Source Data for Monetary and Financial Statistics". Monetary and Financial Statistics: Compilation Guide. Washington D.C.: International Monetary Fund.
Banking 2008PDF (638 KB) charts 7–8, pages 3–4. International Financial Services, London (IFSL).
Fratianni, Michele; Francesco Marchionne (2009). "Rescuing Banks from the Effects of the Financial Crisis". SSRN Working Paper.
Barth, J.R., Caprio, G., and Levine, R., 2001. Regulation and supervision: what works best? World Bank Policy Research Working Paper
“The Financial Accelerator in a Quantitative Business Cycle Framework.” With Mark Gertler and Simon Gilchrist. In John Taylor and Michael Woodford, Eds Handbook of Macroeconomics, Amsterdam: North Holland, 2000, chapter 21.
“Functions of a theory of behavior under uncertainty,” Macroeconomics, 11: 12-20,195
