I think that deposit insurance is very important but we didn't have anything for corresponding accounts at brokerage services until 1970.

所以存款保险是至关重要的,在1970年前,在经纪服务业务中,对于对应账户还未有保护举措

耶鲁公开课 - 金融市场课程节选

Now the brokerage industry-- The New York Stock Exchange goes back into the eighteenth century, it's very old.

经纪行业历史悠久...,纽约股票交易所历史悠久,成立于18世纪

耶鲁公开课 - 金融市场课程节选

The problem is, if your brokerage firm fails you could lose a lot; you could lose your cash account and your security account.

可问题是,一旦经纪公司破产,你可能损失惨重,赔光你现金账户和证券账户上所有的资金

耶鲁公开课 - 金融市场课程节选

This was motivated by a spectacular failure of a brokerage, Goodbody & Co., in 1970.

一家证券经纪行的倒闭改变了这一状况,古德巴迪公司,于1970年倒闭

耶鲁公开课 - 金融市场课程节选

If you own stock-- we don't get them in the mail anymore because you own it through some brokerage account and you get it on a website.

如果你有股票...,我们现在不通过挂号信了,因为人们都通过经纪人账户,在网站上购买股票

耶鲁公开课 - 金融市场课程节选

I hope you know what I mean; a brokerage service is a place where stockbrokers work and a stockbroker is somebody that manages your buying and selling of shares.

但愿你们听得懂,经纪服务业务就是股票经纪人从事的工作,股票经纪人,管理着股票的买入和卖出

耶鲁公开课 - 金融市场课程节选

In other words, if you had an account at a brokerage and you thought you had a hundred shares of IBM and now the broker is going bankrupt -the broker won't answer your email anymore and he's just gone you go to SIPC and say, I had these hundred shares.

换句话说,如果你在一家经纪公司,设有账户,其中有IBM的100股股份,现在经纪行破产了,经纪行不再回复你的邮件,消失了,你告诉证券投资者保护公司,我有100股IBM的股票

耶鲁公开课 - 金融市场课程节选