银行开始拆开由住房和商业抵押贷款打包成的证券，然后重新打包成市场专家所谓的“迷你债权抵押证券”。
Banks are disassembling securities produced by bundling home and commercial mortgages and repackaging them into what market experts describe as mini-CDOs.
即便是债权抵押证券(CDO)也在准备各种各样的复出。债权抵押证券可能是华尔街历史上赔钱最严重的。
Even collateralized debt obligations, perhaps the biggest money-loser in Wall Street history, are staging a comeback of sorts.
虽然德国企业在出口工业品上取得巨大成功，一些德国银行却错误地购买了美国的抵押债权。
For all of the success of German firms in exporting goods, some German Banks made the mistake of buying American mortgage debts.
卡西迪说，“贷款一发放债权就卖”的业务模式鼓励了草率放贷，引发了当前的抵押贷款危机。
The originate-and-sell business model 'encouraged reckless lending' that triggered the current mortgage morass, Mr. Cassidy said.
与此同时，消费者们发现，他们的财富并不像他们认为的那么多，可用来借款的抵押品也少了，而债权人向他们施加的压力也比预想的大。
At the same time consumers discover they have less wealth than they expected, less collateral to borrow against and are under more pressure than they expected from their creditors.
通过购买其他债主的债权，或者为那些符合要求的抵押贷款债权提供担保，这两家公司激活了家庭住房市场。
The duo fuels home lending by purchasing loans from other lenders, or by providing guarantees to back the share of mortgage loans that meet their standards.
财产抵押后，该财产的价值大于所担保债权的余额部分，可以再次抵押，但不得超出其余额部分。
If the value of the mortgaged property exceeds that of the claim secured, the surplus may be mortgaged again, but not in excess of the surplus.
银行和其他债权方将会避免这样。二，欧洲央行（ECB）已经说明了充足的违约债务不能用于中央银行的抵押物，但是自愿性的新贷款可以作为央行的抵押物。
Second, the ECB has indicated that restructured debt that is the result of a default will not be eligible as collateral at the central bank while new loans that are voluntarily made will be.
抵押品给了投资者购买抵押债权组合的信心，这就是所谓的二次抵押贷款。
The guarantees give investors confidence to buy packages of mortgage debt, known as mortgage-backed securities.
这套系统最大的特点是权责清晰：法院保证债权人按照资历获得还款，有抵押贷款者优先补偿。
The system has the great benefit of clarity, with the court ensuring that the creditors are paid in order of seniority, with secured lenders getting first cut.
它们既可以保护投资者免遭支持抵押债权凭证的抵押贷款的初步损失，又可以提供比相同评级的债券更高的回报率。
They protected investors from initial losses on the mortgages backing the CDOs, while offering better returns than bonds with a similar rating.
鲁宾和其他银行家应该顶住诱惑，全面而如实地向公众披露银行在抵押债权凭证、次级抵押贷款和其他缩水资产上的风险敞口。
The temptation for Mr Rubin and others will be to hold back from revealing the full extent of the Banks' exposures to CDOs, subprime mortgages and other wilting assets.
许多银行不愿意持有风险较大、品级较次的抵押债权凭证，因为其自有的风险管理系统认为它们太过危险。
Many Banks got rid of the riskier and more junior CDO tranches, because their own risk-management systems designated them as too dangerous.
债权人与债务人就某项商品在一定期间内连续发生交易而签订的合同，可以附最高额抵押合同。
The contract executed by a creditor and a debtor for the continuous transaction of a specific commodity in a given period of time may be accompanied by a contract of mortgage of maximum amount.
担保债权凭证“是一种将有稳定收入流的固定资产组合，如住房抵押贷款打包而成的有价证券。”
"Collateralized Debt Obligations" are securities based upon a portfolio of fixed income-producing assets, such as home mortgages.
法律上的争论围绕着一份不易操作的债权人协议。阿克曼先生声称这份协议赋予其反对放弃抵押品赎回权的权利。
Legal arguments focused on an unwieldy inter-creditor agreement, which Mr Ackman's group optimistically claimed gave him the right to oppose foreclosure.
去年秋天，我们了解到，许多抵押贷款的债权人从事非法的取消抵押品赎回权的活动。
Last fall, we learned that many mortgage lenders were engaging in illegal foreclosures.
Meridian[font=宋体]最大的债权人有一些是对冲基金，持有大量的一、二级抵押债务并能够代表这两个级别的债权人进行投票。
Some of Meridian's biggest creditors were hedge funds which held a lot of first- and second-lien debt and in effect had a blocking vote in both classes.
我们用它来支付账单，我们的债权人不仅接受，而且还极其热心地用它来购买美国发行的各种证劵，包括如今无人问津的抵押担保证券（mortgage-backedsecurities）。
We pay our bills with it. And our creditors not only accept it, they also obligingly invest it in American securities, including our slightly shop-soiled mortgage-backed securities.
9月29日，上诉法院的一项判决支持优先债权人，为10月4日的已没收抵押品销售铺平道路。
On September 29th an appeals-court judge sided with the senior creditors, paving the way for a foreclosure sale on October 4th.
Chrysler的一些抵押债权人认为他们的权利在这个过程中被忽视，并对此表示反对，这些反对之声很快被提上了联邦法院。
Objections from some of Chrysler's secured lenders, which argue that their rights have been sidelined in the process, were expedited to a federal appeals court.
雪上加霜的是，债券保险人也在抵押债权凭证中泥足深陷，而它们还担当着为价值25000亿美元的美国市政债券市场进行评级的重任。
To make matters worse, bond insurers, which rate America's $2.5 trillion municipal-bond market, are also up to their necks in CDOs.
雪上加霜的是，债券保险人也在抵押债权凭证中泥足深陷，而它们还担当着为价值25000亿美元的美国市政债券市场进行评级的重任。
To make matters worse, bond insurers, which rate America's $2.5 trillion municipal-bond market, are also up to their necks in CDOs.
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