2007年7月,美国著名投资银行贝尔斯登公司宣布,受次级抵押贷款拖累,旗下两只基金停止赎回。为此,投资人损失了近15亿美元。继贝尔斯登公司之后,美林公司和花旗集团相继宣布受次级抵押贷款影响,分别蒙受79亿美元和80～110亿美元的账面损失。此后,一场由美国次级抵押贷款市场危机引起的风暴席卷了美国、欧盟和日本等世界主要金融市场。 July 2007, the United States well-known investment bank Bear Stearns announced that dragged down by the subprime mortgage loans, the two funds stopped the redemption. To this end, investors lost nearly 1.5 billion US dollars. Following Bear Stearns, Merrill Lynch and Citigroup have each claimed to be affected by subprime mortgages, with book losses of $ 7.9 billion and $ 8 billion to $ 11 billion, respectively. Since then, a storm triggered by the crisis in the U.S. subprime mortgage market has swept the world’s major financial markets such as the United States, the European Union and Japan.