过多的监管者还只是立足于本国，从狭隘的角度关注金融系统的不稳定性问题，即使银行灾难带来的全球化恶果也难以改变他们的看法。

Too many supervisors still think about financial instability in narrowly national terms, even though catastrophes at big banks have international consequences.

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而我，则用它来解释金融市场所内禀的不稳定性。

I used it to demonstrate the inherent instability of financial markets.

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由此引出了批评者的第三点：不但没有增强经济的抵抗力，现代金融加剧了它们的不稳定性。

That leads to the critics’ third point: that far from enhancing economies’ resilience, modern finance has added to their instability.

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