到2006年，MBIA开始参与到风险更高的为担保债务凭证提供担保的业务中。
By 2006 MBIA had plunged into the much riskier business of guaranteeing collateralized debt obligations, or C.D.O. 's.
英格兰银行（Bank of England）行长默文·金（Mervyn King）几天前谈到，在这个世界已经从“我的承诺就是我的债券”变成了“我的承诺就是我的双层担保债务凭证（CDO squared）”的时候，该如何重塑信心。
Mervyn King, the head of the Bank of England, talked a few days ago about how faith could be restored in a world where "my word is my bond" had been replaced by "my word is my CDO squared".
具有戏剧性的是，在这长达10多个小时的听证会中，双方一直在就担保债务凭证(CDO)是否为一款“垃圾”产品而争锋不下。
The roasting, which lasted more than ten hours, was as dramatic as any hearing focused largely on synthetic collateralised-debt obligations (CDOs) could be.
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