2007年爆发的美国次贷危机愈演愈烈,殃及全球,已成为20世纪30年代经济大萧条以来最严重的一次金融危机。由于住房抵押贷款证券化是导致次贷危机的一个重要诱因,因而使其备受争议和质疑。恰逢我国资产证券化刚刚起步,这个问题更加值得我们认真研究和思考,并从中吸取教训,以确保我国资产证券化的健康有序发展,避免重蹈美国次贷危机的覆辙。 The explosion of the U.S. subprime mortgage crisis in 2007 and its impact on the world have become the worst financial crisis since the Great Depression of the 1930s. As the mortgage-backed securitization is a major cause of the subprime mortgage crisis, it has become controversial and questionable. With the start of asset securitization in our country, this issue deserves our careful study and reflection, and learn from it to ensure the healthy and orderly development of asset securitization in our country and avoid repeating the mistakes of the U.S. subprime mortgage crisis.