资源描述：
《the origins of the financial crisis》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。
1、TheEconomistTheoriginsofthefinancialcrisisCrashcourseTheeffectsofthefinancialcrisisarestillbeingfelt,fiveyearson.Thisarticle,thefirstofaseriesoffiveonthelessonsoftheupheaval,looksatitscauses.THEcollapse【asuddenlargedeclineofbusinessorthepricesofstocks】ofLehmanBrothers,asprawling[sp
2、readingoutcarelesslyindifferentdirection]globalbank,inSeptember2008almostbroughtdowntheworld’sfinancialsystem.Ittookhugetaxpayer-financedbail-outs【anactofgivingfinancialassistancetoafailingbusinessoreconomytosaveitfromcollapse.】toshoreup[support]theindustry.Evenso,theensuing[follow
3、ingimmediatelyandasaresultofwhatwentbefore]creditcrunch[acriticalsituationcausedbyalackofsomething,especiallymoney]turnedwhatwasalreadyanastydownturn[aworseningofbusinessoreconomicactivity]intotheworstrecession[thestateoftheeconomydeclines]in80years.Massivemonetaryandfiscalstimulus
4、激励preventedabuddy-can-you-spare-a-dimedepression,buttherecoveryremainsfeeble【notveryeffective】comparedwithpreviouspost-warupturns.GDPisstillbelowitspre-crisispeakinmanyrichcountries,especiallyinEurope,wherethefinancialcrisishasevolvedintotheeurocrisis.Theeffectsofthecrasharestillri
5、ppling[asmallwaveonthesurfaceofaliquid]throughtheworldeconomy:witnessthewobbles[anunsteadyrockingmotion]infinancialmarketsasAmerica’sFederalReservepreparestoscaleback[ toreduceormakeareductioninthelevelofactivity,extent,numbers,etc]itsefforttopepup[urgeonorencourage]growthbybuyingb
6、onds债券Intheyearof2008,theworldabruptedthefinancialcrisis,causingtheeconomicrecessionoftheworld.Theeffectsofthecrisisarestillripplingthroughtheworldeconomy..2008年9月，全球性银行雷曼兄弟的破产几乎使得世界经济系统瘫痪。尽管花费了大量的纳税人资助来救助，但即使这样，随后的信贷紧缩证明在80年里经济的衰退会越来越严重。大量的货币和金融鼓励阻止了，但是与早前战后的恢复相比这次的经济恢复非常缓慢。在许多富足国
7、GDP仍然低于经济危机爆发前的峰值，特别是在欧洲，经济危机已经逐步转化成欧元危机。危机的影响仍然牵动着世界经济：金融市场不稳定，联邦储备委员会准备减少它的努力，通过购买债券来鼓励增长。Withhalfadecade’shindsight【understandingthenatureofaneventafterithashappened】,itisclearthecrisishadmultiplecauses.Themostobviousisthefinanciersthemselves—especiallytheirrationally [i'ræʃənli
8、]【notbasedonclearthoughtor
