始锟斤拷2007 锟斤拷2 锟铰的次硷拷锟斤拷押锟斤拷锟斤拷危锟斤拷锟斤拷锟斤拷啤锟斤拷未锟轿ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷失锟轿第革拷锟街ｏ拷锟斤拷锟斤拷锟斤拷锟角的斤拷锟斤拷锟铰硷拷锟捷憋拷为锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷慕锟斤拷诙锟斤拷锟斤拷锟斤拷锟斤拷锟侥壳帮拷锟斤拷锟饺伙拷锟斤拷锟饺凤拷锟斤拷锟斤拷校锟斤拷锟斤拷锟斤拷锟揭碉拷锟斤拷泻锟酵讹拷锟斤拷锟斤拷校锟斤拷锟轿ｏ拷锟斤拷辗锟斤拷锟轿ｏ拷锟斤拷荼锟斤拷锟斤拷锟叫撅拷锟斤拷锟斤拷锟斤拷锟斤拷什么锟斤拷色锟斤拷锟斤拷锟角匡拷锟斤拷确锟斤拷锟斤拷锟轿达拷危锟斤拷锟斤拷锟斤拷锟斤拷锟侥斤拷锟节讹拷锟斤拷锟斤拷全锟斤拷锟斤拷锟斤拷业影锟斤拷锟斤拷远锟斤拷

锟斤拷锟藉看锟斤拷锟斤拷锟斤拷前全锟斤拷锟斤拷锟斤拷业锟斤拷锟斤拷锟劫碉拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟截撅拷锟饺斤拷突锟斤拷锟斤拷锟斤拷锟矫凤拷锟芥，锟斤拷2007 锟斤拷9 锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷5 锟轿斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷剩锟斤拷锟斤拷锟斤拷锟斤拷蚀锟?5.25%锟铰碉拷锟斤拷3%锟斤拷锟揭匡拷锟杰斤拷一锟斤拷锟铰碉拷锟斤拷债券锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷越锟斤拷越锟斤拷锟酵ｏ拷锟斤拷锟节和筹拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷味锟斤拷锟斤拷锟叫匡拷锟皆★拷锟斤拷锟斤拷虺ぁ锟斤拷锟斤拷锟斤拷锟斤拷媒系偷锟斤拷锟斤拷食杀锟侥硷拷锟斤拷锟斤拷锟斤拷式锟酵讹拷锟斤拷诔锟斤拷诓锟狡凤拷锟斤拷锟斤拷锟阶?取锟斤拷锟斤拷锟节癸拷去6 锟斤拷锟斤拷锟叫ｏ拷锟斤拷锟斤拷业锟缴癸拷锟斤拷锟绞达拷930 锟斤拷锟斤拷元锟斤拷锟绞憋拷锟斤拷玫锟斤拷锟绞碉拷锟街革拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟绞斤拷锟斤拷锟斤拷省锟酵?业锟斤拷锟斤拷锟斤拷锟斤拷锟阶★拷锟斤拷锟斤拷锟斤拷锟斤拷锟绞ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷通锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟接帮拷锟斤拷锟斤拷屑锟斤拷锟斤拷谐锟斤拷锟斤拷锟斤拷锟剿?平锟斤拷锟斤拷一锟斤拷锟芥，锟斤拷锟斤拷锟斤拷锟斤拷也锟斤拷锟斤拷涌锟街ｏ拷锟斤拷锟斤拷锟街讹拷元锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟绞诧拷锟斤拷值锟接次达拷锟斤拷锟斤拷锟斤拷押证券锟斤拷subprime CDO锟斤拷锟斤拷锟斤拷锟斤拷证券锟斤拷锟斤拷品锟斤拷锟接ｏ拷锟节癸拷权锟斤拷锟斤拷锟绞ｏ拷ROE锟斤拷锟斤拷锟酵★拷锟绞憋拷锟斤拷锟斤拷锟斤拷募锟斤拷锟斤拷锟斤拷锟截碉拷锟斤拷锟斤拷锟铰ｏ拷锟斤拷锟斤拷锟斤拷营锟侥杠杆憋拷锟斤拷锟斤拷锟较斤拷锟酵等★拷

实锟斤拷锟叫ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷息锟矫碉拷锟叫筹拷锟斤拷迎锟斤拷锟斤拷锟斤拷注锟斤拷锟斤拷锟斤拷锟皆的举达拷也锟窖凤拷锟斤拷锟斤拷锟矫ｏ拷锟阶讹拷锟斤拷锟斤拷业同业锟斤拷锟斤拷锟斤拷剩锟?LIBOR锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷实锟斤拷锟斤拷畈伙拷辖锟斤拷停锟斤拷锟斤拷蟛糠锟斤拷锟斤拷貌锟狡凤拷谐锟斤拷源锟斤拷锟绞碉拷锟斤拷怨乇锟阶刺?锟斤拷锟斤拷锟斤拷锟斤拷锟叫碉拷锟斤拷值锟斤拷去锟斤拷锟侥硷拷锟竭碉拷锟斤拷锟铰斤拷约30%锟斤拷锟斤拷锟矫伙拷懈锟斤拷玫锟接?锟斤拷预锟节ｏ拷锟斤拷杉劢锟斤拷锟斤拷芨锟斤拷锟斤拷压锟斤拷锟斤拷锟斤拷锟斤拷锟节匡拷锟斤拷锟斤拷锟轿达拷危锟斤拷锟斤拷锟斤拷锟斤拷业锟斤拷影锟斤拷锟斤拷要锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷妗?

    一锟斤拷锟斤拷锟斤拷锟脚达拷锟斤拷模锟斤拷锟斤拷锟斤拷糯锟斤拷锟阶?

锟斤拷锟节次达拷危锟斤拷锟斤拷锟斤拷全锟斤拷锟斤拷诙锟斤拷锟斤拷锟饺?锟斤拷锟斤拷锟斤拷业锟斤拷锟秸遍降锟斤拷锟脚达拷锟斤拷模锟斤拷锟斤拷锟斤拷糯锟斤拷锟阶硷拷锟斤拷锟斤拷锟斤拷锟揭伙拷卸锟斤拷锟街憋拷锟接帮拷锟斤拷锟斤拷锟斤拷锟揭?锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟轿达拷危锟斤拷锟斤拷锟铰碉拷锟绞诧拷证券锟斤拷锟筋动锟斤拷锟劫猴拷锟斤拷锟斤拷锟皆斤拷锟斤拷压锟斤拷锟接达拷

    锟斤拷一锟斤拷锟绞诧拷证券锟斤拷锟筋动锟斤拷锟斤拷

锟绞诧拷证券锟斤拷锟斤拷指锟斤拷锟叫把达拷锟斤拷锟斤拷什锟斤拷锟斤拷锟绞诧拷锟截ｏ拷锟斤拷锟斤拷锟叫碉拷锟绞诧拷锟斤拷债锟斤拷锟叫帮拷锟斤拷锟斤拷锟斤拷荽丝锟斤拷锟斤拷锟斤拷碌锟街と?锟斤拷然锟斤拷锟斤拷锟街と?锟斤拷锟桔革拷投锟斤拷锟竭的癸拷锟教★拷锟斤拷证券锟侥硷拷值锟斤拷锟街斤拷锟斤拷取锟斤拷锟斤拷锟绞诧拷锟截的硷拷值锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷纸锟斤拷锟斤拷锟酵讹拷锟斤拷叱械锟斤拷什锟斤拷丶锟斤拷锟斤拷纸锟斤拷锟斤拷浠?锟斤拷锟斤拷锟侥凤拷锟秸★拷证券锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟绞凤拷锟秸猴拷锟斤拷锟矫凤拷锟秸斤拷锟斤拷锟斤拷锟节憋拷值锟斤拷一锟斤拷锟街段ｏ拷使锟斤拷锟叫碉拷锟绞诧拷锟斤拷暇锟斤拷懈锟斤拷玫锟斤拷锟斤拷锟斤拷裕锟斤拷锟斤拷锟斤拷锟斤拷锟轿?锟斤拷锟叫凤拷锟斤拷锟斤拷锟斤拷锟揭伙拷锟斤拷锟揭?锟斤拷源锟斤拷锟斤拷锟揭伙拷锟斤拷锟皆斤拷锟酵硷拷堋锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷时锟斤拷锟揭?锟斤拷准锟斤拷锟斤拷要锟斤拷龋锟斤拷锟斤拷锟斤拷锟接?锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷傻牟锟斤拷锟接?锟斤拷锟截达拷影锟届。锟斤拷2000 锟斤拷锟斤拷锟斤拷锟斤拷欧锟斤拷锟叫筹拷锟斤拷锟斤拷锟斤拷锟脚达拷锟斤拷锟斤拷锟?7.6%锟斤拷锟劫讹拷锟斤拷锟斤拷锟斤拷锟斤拷鄢锟街と?锟斤拷影锟届，锟脚达拷锟斤拷锟斤拷锟斤拷俳锟轿?6.5%锟斤拷证券锟斤拷锟斤拷

锟斤拷锟斤拷值约4360 锟斤拷欧元锟侥讹拷锟斤拷锟脚达拷锟斤拷模锟斤拷锟洁当锟斤拷同时锟斤拷GDP锟斤拷锟斤拷锟斤拷20%锟斤拷锟斤拷锟斤拷锟斤拷锟叫筹拷锟斤拷80%锟侥次硷拷锟斤拷押锟斤拷锟筋被锟斤拷锟斤拷锟阶≌?锟斤拷押锟斤拷锟筋担锟斤拷证券锟斤拷RMBS锟斤拷锟斤拷债锟斤拷锟窖褐と?锟斤拷CDO锟斤拷锟斤拷70锟斤拷锟侥杠杆斤拷锟阶达拷锟筋被锟斤拷锟斤拷纱锟斤拷锟斤拷押证券锟斤拷CLO锟斤拷锟斤拷锟斤拷些锟结构锟斤拷锟斤拷锟矫诧拷品一锟斤拷锟斤拷锟桔革拷投锟斤拷锟竭ｏ拷锟斤拷锟叫硷拷锟斤拷锟酵凤拷锟斤拷应锟斤拷锟脚达拷锟斤拷龋锟斤拷锟斤拷薪锟揭伙拷锟斤拷糯锟斤拷锟斤拷锟绞碉拷希锟斤拷什锟街と?锟斤拷锟筋动锟狡讹拷锟剿次达拷锟饺诧拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷畋ｏ拷栈锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷模锟斤拷锟斤拷锟斤拷

锟杰次达拷危锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟节讹拷锟斤拷锟斤拷影锟届，证券锟斤拷锟斤拷锟阶活动锟斤拷锟斤拷锟节硷拷锟劫★拷锟斤拷原锟斤拷锟斤拷要锟叫讹拷锟斤拷锟斤拷一锟斤拷投锟斤拷锟竭讹拷住宅锟斤拷押锟斤拷锟筋担锟斤拷证券锟斤拷债锟斤拷锟窖褐と?锟饺碉拷押锟斤拷锟斤拷锟斤拷氐锟斤拷锟斤拷貌锟狡凤拷姆锟斤拷锟斤拷锟绞讹拷锟斤拷锟斤拷锟竭ｏ拷锟叫筹拷锟斤拷锟结供锟剿革拷锟斤拷锟斤拷锟斤拷细叩牟锟狡凤拷锟窖★拷锟? 锟斤拷之锟斤拷锟斤拷锟斤拷锟斤拷锟皆结构锟斤拷锟斤拷锟矫诧拷品锟斤拷锟斤拷锟斤拷锟斤拷锟节憋拷锟截ｏ拷锟斤拷耍锟斤拷锟斤拷未锟斤拷雀叻锟斤拷锟秸?锟斤拷锟斤拷锟斤拷煽山锟斤拷锟街と?锟斤拷然锟斤拷锟斤拷鄹锟酵讹拷锟斤拷叩幕疃?锟斤拷锟节硷拷锟劫ｏ拷锟斤拷锟斤拷锟街と?锟斤拷锟斤拷品锟斤拷锟脚达拷转锟狡和达拷锟斤拷锟斤拷锟斤拷锟皆斤拷锟斤拷锟揭伙拷穑?碉拷锟斤拷目前锟叫筹拷锟斤拷锟斤拷锟铰ｏ拷投锟斤拷锟斤拷越锟斤拷越寻锟斤拷锟斤拷锟矫凤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷挚锟斤拷锟斤拷锟剿ｏ拷锟斤拷锟叫诧拷锟矫诧拷锟斤拷锟斤拷锟斤拷些锟斤拷锟筋，锟接讹拷锟斤拷锟斤拷锟斤拷锟皆凤拷锟斤拷锟斤拷锟斤拷锟皆硷拷锟斤拷锟斤拷锟斤拷锟斤拷裕锟街と?锟斤拷锟斤拷锟阶的硷拷锟劫斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟叫碉拷锟脚达拷锟筋动锟斤拷