The financial system has collapsed. The house of cards has come unglued and that’s why we’re in such trouble.

我们的金融体系已经崩溃了，房地产泡沫破灭了，所以我们处于一个很大的困境中。

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Because the traditional rural finance arrangements have flaws in the system and the peasant house-holds' financial need cannot be effectively met, the rural finance resources drains seriously.

传统农村金融安排由于其制度上存在缺陷，不能有效地满足广大农户的金融需求，农村金融资源流失严重。

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In just a few chapters, he outlines the forces that brought the world to the brink of a bust: a house-price bubble boosted by runaway mortgage lending in the rich world, particularly America, a lightly regulated global financial system that found ever-more creative ways to speculate on rising house prices, and macroeconomic policymaking that was far too laid back about the dangers posed by asset-price bubbles.

ECONOMIST: The reasons for the crisis and how to stop it happening again

So following a meeting of the House Committee of the House of Lords, and at their request, I have today written to the senior salaries review body to ask them to review the system of financial support in the House of Lords to increase accountability, transparency and reduce cost.

BBC: In full: Constitution proposals

But the fact that the Public Safety Personnel System is in terrible financial shape convinced Arizona House Speaker Kirk Adams and Senate President Russell Pearce (a retired sheriff) to spearhead reform through the legislature this year.

FORBES: Arizona's Pension Change Shows That No Union Is Untouchable