目前为止，美国大部分的信贷崩溃都源自于资产证券化的失败。
So far most of the credit collapse in America has come from the demise of securitisation.
基于当时财政紊乱、商业衰竭和信贷崩溃，产生了联邦。
It had its origin in the necessities of disordered finance, prostrate commerce, and ruined credit.
为了防止出现全面的信贷崩溃，阿姆斯特丹市只能作为最后贷款人暂时介入。
To prevent a general credit collapse, the city of Amsterdam stepped in temporarily as a lender of last resort.
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