Abstract: In constructing legal mechanisms for market retreat of financial institutions, three legal relationships must be dealt with well: government and market, efficiency and security, and readjustment and liquidation. This paper makes a study of a series of American countermeasures to financial crisis, and sorts out some valuable lessons China financial institutions can learn in the construction of legal mechanisms for market retreat. Specifically speaking, the measures include: establishing systematic legal mechanisms for the financial crisis precaution before crisis, constructing a perfect legal assistance mechanism and macroprudential financial supervisory mechanism.

Key words: American financial crisis, government and market, efficiency and security, readjustment and liquidation, financial institution&rsquo, s market retreat