债券保险不也是这样吗？
债券保险商已经付出了代价。
这就是市政债券保险公司。
分析师表示，债券保险人需要做更多的工作。
英国石油公司债券收益率周五大涨，其债券保险成本也狂升。
Yields on the company's bonds soared Friday, as did the cost of insuring its debt.
还有一件事，沃伦·巴菲特说，他希望介入市政债券保险这一领域。
The other thing that's happened now is that Warren Buffett said he wants to get into the municipal bond insuring business.
就连在2008年进入债券保险市场的股神巴菲特，都已经撤资抽身了。
Even Warren Buffett, who entered the bond-insurance market in 2008, has pulled back.
但大家可能不这样想，大家往往高度关注债券市场中的市政债券保险商。
You may think otherwise, given the markets' fevered concern over the “monoline”[2] bond insurers.
不同的欧美银行集团在与不同的债券保险合作，反映出这些银行各自的风险。
Groups of US and European Banks are working with different bond insurers, reflecting their Banks' individual exposures.
他们担心更多的坏消息，诸如债券保险信用 等级评级调低，会引发恶性循环。
They feared more bad news, such as the downgrading of bond insurance, could set off a nasty downward spiral.
过去保险几乎一半市场的债券保险公司在经历错误的抵押贷款赌注后已经削减或破产。
Bond insurers, who used to cover roughly half of the market, have retrenched or gone bust after making bad mortgage bets.
随着信贷市场的动荡不堪，在城市借贷时，债券保险公司急需保持他们所依赖的顶尖评级。
With the credit markets in turmoil, bond insurers are desperate to retain the top-notch ratings that cities depend on when they borrow.
随着债券保险的缺失，这使得较小的借款者(他们最主要的吸引力是他们的免税地位)，生活更艰难。
Along with the scarcity of bond insurance, that could make life even harder for smaller borrowers whose principal appeal was their tax-exempt status.
同样，例如AIG和其他债券保险商所发行的CDO互换的“尾部”风险的暴露也很难估计。
Likewise, it was hard to gauge the exposures to "tail" risks built up by sellers of swaps on CDOs such as AIG and bond insurers.
它们可以用来给实际债券保险，但——鉴于其不对称的特点——不能用来进行针对国家或企业进行投机。
They could be used to insure actual bonds but - in light of their asymmetric character - not to speculate against countries or companies.
2005年，债券发行人投保达到新增债券保险业务的57%。而如今，该数字仅为7%左右。
In 2005 bond insurers covered around 57% of new bond issuance, but now they cover a mere 7% or so.
这些债券保险商明白得很，通过分拆的威胁，或许能迫使华尔街的银行对其注资以保全其完整。
The monolines know that, by threatening to break apart, they may force Wall Street Banks to stump up the cash to keep them whole.
其余的通常要3A级别的债券保险公司为他们的债券作担保，帮助购买者避免困难的严格评估。
The rest would often have their bonds guaranteed by AAA-rated bond-insurance companies, helping buyers sidestep painful due diligence.
它们可以用来给实际债券保险，但鉴于其不对称的特点不能用来进行针对国家或企业进行投机。
They could be used to insure actual bonds but - in light of their asymmetric_ character - not to speculate against countries or companies.
11月1日，当最大的债券保险公司之一ambac宣布停付一期利息时，这个行业离灰飞烟灭又近了一点。
On November 1st the industry edged closer to extinction when one of the largest bond insurers, Ambac, announced that it would skip an interest payment.
问题不仅仅是在证券市场上，本周，联邦通过大幅度的降息和挽救债券保险业的行动来支撑证券市场。
The problem is not so much in the stockmarket, which was buoyed this week by a drastic interest-rate cut by the Fed and a move to rescue bond insurers.
一天之后纽约保险业管理者和各主要银行启动了一项价值几十亿美元的计划去拯救摇摇晃晃的债券保险商。
A day later the New York insurance regulator and leading Banks began work on a multi-billion-dollar plan to rescue the country's teetering bond insurers.
你可能会说，美国房地产，是与市政债券保险公司完全不同，但是当房地产行业开始衰退，人们就开始对抵押贷款违约。
The housing sector in the United States, you might say, is completely different from municipal bond insurers; but when the housing sector starts going down, people start defaulting on their mortgages.
美国国际集团、房丽美、房地美、通用电气、市立债券担保人——美国债券保险公司、MBIA都曾经拥有3A的评级。
The American International Group, Fannie Mae, Freddie Mac, General Electric and the municipal bond guarantors Ambac Financial and MBIA all had triple-A ratings.
若这些债券保险商失去了最高的信用评级，他们担心很多债券发行商将面临更高的发行成本，这使得这些发行商难以生存。
Were the monolines to lose their top-notch ratings, they fear, many issuers could struggle to meet higher funding costs.
本周这些债券保险人被告知，要想维持它们所希望的AAA评级，就必须让其股东注入更多资本，这无疑为市政债券蒙上了一层阴影。
They were told this week that they might lose their coveted AAA ratings unless their shareholders provide more capital, which would cast a cloud over municipal bonds.
雪上加霜的是，债券保险人也在抵押债权凭证中泥足深陷，而它们还担当着为价值25000亿美元的美国市政债券市场进行评级的重任。
To make matters worse, bond insurers, which rate America's $2.5 trillion municipal-bond market, are also up to their necks in CDOs.
雪上加霜的是，债券保险人也在抵押债权凭证中泥足深陷，而它们还担当着为价值25000亿美元的美国市政债券市场进行评级的重任。
To make matters worse, bond insurers, which rate America's $2.5 trillion municipal-bond market, are also up to their necks in CDOs.
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