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首页> 外文期刊>Journal of Accounting & Organizational Change >Financial innovation: Wall Street's false utopia
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Financial innovation: Wall Street's false utopia

机译：金融创新：华尔街的虚假乌托邦

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摘要

Purpose – The purpose of this paper is to connect the dots between subprime mortgage lending and the financial crisis of 2008. Design/methodology/approach – Descriptive analysis of structured securities. Findings – The innovation of structured securities was incorrectly implemented in the case of mortgage-related securities. Research limitations/implications – There is no centralized source for data connecting mortgages with securities, thereby making a rigorous, statistical analysis impossible. Practical implications – The US Congress authorized $700 billion to purchase “troubled assets,” defined as “residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages?…?” This paper exploits the difference between mortgages and those securities. Originality/value – The paper extends knowledge on the topic of mortgage related securities.
机译：目的–本文的目的是联系次级抵押贷款与2008年金融危机之间的点。设计/方法/方法-结构性证券的描述性分析。调查结果–在与抵押贷款相关的证券中，结构性证券的创新未得到正确实施。研究的局限性/意义–没有将抵押贷款与证券联系起来的集中数据来源，因此不可能进行严格的统计分析。实际影响–美国国会授权7,000亿美元购买“问题资产”，定义为“住宅或商业抵押以及基于或与此类抵押相关的任何证券，债务或其他工具？……？”本文利用抵押和那些证券之间的区别。原创性/价值–本文扩展了有关抵押相关证券的知识。

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