美国监管层对金融自由化的信奉,导致金融监管松弛;而金融监管松弛诱致甚至怂恿金融机构为追求高额利润而进行过度创新:过度创新导致经济体系中信贷膨胀、资产泡沫;当预期风险增加、信贷收缩时,资产泡沫破灭,便引发全面金融危机。
Because the supervisory organ of USA believes in free-financial system, this leads to supervision slackness to financial institutions. Supervision slackness to financial institutions encourages and instigates financial institutions to excessive financial innovations for high profit. Excessive financial innovation leads to credit expansion and asset foam. When expected risk rises, credit is contracted and assets foam is disillusioned, an entire financial crisis will break out.