The American financial crisis .. I don't understand.

Affected by the subprime mortgage problem, the US financial crisis has further intensified. Affected by the US financial crisis, China's monetary policy will be loosened. The Bank of China cut interest rates for the first time in six years. With Lehman Brothers facing bankruptcy, Merrill Lynch will be sold to Bank of America for $44 billion. AIG is in deep financial crisis. Coupled with the collapse of Bear Stearns and the subprime mortgage crisis, the core of the American financial system has become loose, and its shadow has spread from Wall Street and the United States to the major economies in the world. The root cause is fierce competition among American financial institutions. In order to win the market, financial innovation must be carried out, but the financial products launched have obvious risks. The abuse of financial means and the lack of supervision are the root causes of the crisis. In fact, since the subprime mortgage crisis broke out in an all-round way, the US government has been doing its best to contain its adverse effects. In August 2007, the Federal Reserve injected $654.38+047.25 billion into the financial system in just three weeks. In April this year, the Federal Reserve and the U.S. Congress jointly injected 90 billion dollars into the market again. On September 7, the US government even announced that it would take over Fannie Mae and Freddie Mac, two mortgage financing giants. Although the U.S. government has made frequent moves, from the subprime mortgage crisis to the great changes in Wall Street, the nightmare of the U.S. economy has intensified. The various measures taken by the US government failed to achieve the expected results because they did not address the root causes of the subprime mortgage crisis, such as the abuse of financial resources caused by financial innovation and the lack of government supervision. With the withdrawal of Lehman Brothers and Merrill Lynch, including Bear Stearns, which was acquired by JPMorgan Chase at the lowest price in March this year, three of the top five investment banks in the United States have withdrawn from the financial market in just half a year. Alan greenspan, former chairman of the Federal Reserve, said that the United States is in a once-in-a-century financial crisis, and the possibility of economic recession caused by this crisis is increasing. In the face of the drastic changes in the current international and domestic economic environment, apart from adjusting monetary policy, what other policy combinations can be used to resolve risks? The biggest beneficiary of the central bank's interest rate cut should be small and medium-sized enterprises. At present, 70% of small and medium-sized enterprises in China are facing the problem of difficult loans, which directly affects the development of regional economy and ultimately affects the economic growth and employment of China as a whole. The central bank cut interest rates for the first time in six years, which provided us with a clear signal: to solve the financing problem of small and medium-sized enterprises with a more positive attitude. Although the financial crisis in the United States is very serious, it is not all bad news for China. Because the globalization level of our financial industry is relatively low, the impact of subprime mortgage is relatively limited; Moreover, because most of the domestic housing loans are safe assets, it is difficult to have a situation similar to the "financial crisis" in the United States without large-scale illegal operations.