Unfortunately, what we've seen recently is a kind of a bank run on the asset-backed commercial paper.

不幸的是,最近的情况是,有些银行开始运作资产担保商业票据

耶鲁公开课 - 金融市场课程节选

The value of the paper collapsed and the bank became insolvent.

结果债券价值大跌,导致银行破产

耶鲁公开课 - 金融市场课程节选

And all of a sudden he had a crisis Well, I'm not going to get into the depth of it but our banks, because they wanted to make more and more money--and our investment bank, Wall Street--kept issuing different paper against mortgages so it made it simple to give a mortgage.

突然间危机降临在了他的头上,嗯~我不想继续深谈这个问题,但是我们的银行，由于它们想,赚越来越多的钱--还有我们的投行，华尔街--一直都在发行各种各样的抵押贷款票据,那样抵押贷款变得更加容易。

耶鲁公开课 - 金融市场课程节选