Exercises In response to this series of consequences for the subprime lending crisis, the US government is taking remedial measures actively at the present stage. Firstly, rescue the crisis-affected families. The U.S. government issued a number of mortgage relief acts, the main contents of these acts are to extend the mortgage repayment period, change the floating rate of mortgages to the fixed-rate, and limited the amount of monthly repayment, even directly reduced principle repayment. Besides that, for those low-income families severely affected by the crisis, the U.S. government would mail them tax relief check to help them. However, as the pre-real estate bubble led to the housing prices continue to fall, making the mortgage rescue plan limited, while the effect of tax relief also offset by the rising prices over the same period. Although these acts were not very effective, the government still successfully increased the confidence of American families. Secondly, stabilize the financial market. Federal Reserve expanded the scale of balance sheet, while take the government bonds of high liquidity instead of the securities of low liquidity holding by financial institution to stabilize the market. In addition, in order to maintain the operation of the financial markets, the Federal Reserve and U.S. Treasury strip with the bad assets of financial institutions to help reduce their debt, furthermore, guaranteed for almost all the new banks loans, and ultimately take over the troubled financial institutions. With the help of the countries around the world, these policies effectively enhanced the market confidence and stabilized the U.S. financial markets. Finally, reform the financial system and sustain the long-term developing motility. The subprime lending crisis emerged that there are a number of loopholes existing in the US financial system. Therefore the government need to strengthen the monitoring of financial institutions, in particular the derivative financial products, the banks need to strengthen the credit review and control the credit standards, and the enterprises should strengthen their risk management, especially the management of receivable accounts. Besides that, the Obama government placed great emphasis on the economic reforms for the U.S. long-term enormous trade, financial twin deficits, and the non-financial enterprises which were relatively weak in US market. The main idea of the reforms is to build a sustainable and balanced growth path through the new energy plan, health care reform, and the purchase of U.S. goods and urge the appreciation of US dollars (see Financial Times). In conclusion, the effects of the subprime lending crisis is gradually fading away at the moment, like the people recovering the illness, it still need the effective policies to maintain its stability, and need to subside the credit panics from the crisis under a heap of time and finally recovery in a loose monetary and fiscal policy environment.