资产证券化的创新意
作为新的信用体制，资产证券化对传统信用体制主要有三个方面突破：第一，打通了传统的中介信用和市场信用之间的通道；第二，汇集中介信用的资产组合优势与市场信用的投资者组合优势为一体，实现了资源和风险的最优化配置；第三，是对传统信用基础的革命，完成了整体信用基础向资产信用基础的彻底转化。
The most distinct feature of aet securitization as a new credit institutional arrangement is cristolized (?) in the following three breakthroughs: first, aet securitization bridges the gap between the intermediated credit and market credit; secondly, it integrates the advantages of the aet portfolio aociated with the intermediated credit and those of the investor portfolio of the market credit and therefore realizes the best financial resource and risk allocations; thirdly, it revolutionizes the traditional credit transaction basis, making it poible to transact exclusively based on the aet creditworthine instead of the creditworthine of the whole busine.
