Financial innovation has become a dirty phrase lately because of the role of complex securities – packages of mortgages and other liabilities – in the credit crunch and ensuing financial crisis. But the dirty secret is that if western economies are to recover properly, the funding will have to come from the markets. And such will be the competition for cash that some projects are likely to create fresh innovations to attract lenders.
金融創新最近變成了一個不道德的詞，原因是復雜證券——由抵押貸款和其它債務打包而成的證券——在信貸危機和隨后而至的金融危機中扮演的角色。但骯臟的秘密在于，西方經濟體要實現正常的復蘇，就必須從市場獲取資金。對現金的競爭將會非常激烈，以至于一些項目很可能以標新立異的創新來吸引貸款人。
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