Young Scientist Project of National Social Science: The research on Financial Crisis of Western Countries and the pros and cons of its Financial Frame

    Presenter: Zheng Liangsheng Zheng

    The fast growing financial crisis in western country is the consequence of loosen standard of housing mortgage, over extending asset securitization, financial institution`s failure on risk management, inappropriate easy money policy, loosen supervision system, and the misconduct of Rating Agency. Many researches had revealed the imperfection and the deficiency of supervision system and supervision department, pointing out that financial risk is due to the negative acting of the last barrier of supervision. This article is going to discuss the matching up of framework of financial market and financial supervision, the requirement of financial supervision in terms of mixed operation and the pros and cons of western countries` financial system in relation of this financial crisis.