因为中央银行会为其从机构投资者（如保险公司）购买的东西付款，购买中等规模的资产本身会增加广义货币供应，并且其影响可能会更大。

That in itself would raise the broad money supply as the central bank pays for its purchases from institutional investors such as insurance companies. And the impact might be much greater.

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因此，当危机来临时，监管者、金融机构和投资者对于一家机构的问题给其他各方带来的影响的程度都没有足够的理解。

So, when the crisis began, regulators, financial firms, and investors had an insufficient understanding of the degree to which trouble at one firm spelled trouble for another.

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