上世纪80年代的对应词是垃极债券与LBOs(杠杆收购)最近这次的则是债务抵押债券(CDOs)，利率贷款(Option ARMS)结构型债券，以及与复杂与令人费解的金融相对应的虚拟词典。

In the 1980s they were junk bonds and LBOs. The most recent bubble offered CDOs, Option ARMS, Structured Notes and a virtual lexicon of complex and convoluted financing.

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五年后，27%的原定为A级的公司债券遭到降级，而市政债券和主权债券中这一比例分别只有6%和3%，结构型产品不出所料仍是表现最差的，降级率高达53%。

After five years, 27% of A-rated corporate bonds were downgraded, versus 6% of municipal bonds and just 3% of sovereign issues. Unsurprisingly, a whopping 53% of CDOs were downgraded.

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