金融产品交易的合约总额有530万亿美元之多它们所赖以发起的担保品物理的金融资产的实际价值恐怕不过2.7万亿其间的关系就像一组俄罗斯套娃实际的核心是个小小的娃娃却吹出层层的泡沫每一层都被数了一遍钱刮掉一层利润再让下一层投资者接手在博傻中最外的大套娃竟然胖了200倍
但是,1998年LTCM危机几乎拖垮整个金融体系,问题在于金融借贷反映出过度的金融杠杆率。
But, in 1998, when Long Term Capital Management ("LTCM") blew up, it nearly brought down the financial system. The problem was excessive leverage as reflected in the financial sector debt.
但在这之前,最大的缺口还是在金融系统中杠杆率最高的部分。
Until then, the most severe gaps may be in the most leveraged parts of the financial system.
到2009年中期,大多数国家金融机构的杠杆率下降到15年前的水平。
By mid-2009 financial leverage in most countries had fallen to around its average in the 15 years before the crisis.
Unlimited leverage comes automatically with an option exchange. And derivative trading which made the option exchanges look like a benign event.
期权交易与无限杠杆率是与生俱来的,而且金融衍生品交易使得,期权交易看似有益。
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