可次级承销商也在抱怨分得的战利品没有随之增加，因为他们认为投资银行对自身承担的风险漫天要价——那时发行价格低于市场价格的40%，这样，在投资银行血本无归之前，股票市场就不得不跳水了。

They think Banks were overpaid for the risks they took. Issues were priced as much as 40% below market prices so stocks would have had to plunge before Banks would be out of pocket.

youdao

可次级承销商也在抱怨分得的战利品没有随之增加，因为他们认为投资银行对自身承担的风险漫天要价——那时发行价格低于市场价格的40%，这样，在投资银行血本无归之前，股票市场就不得不跳水了。

They think Banks were overpaid for the risks they took. Issues were priced as much as 40% below market prices so stocks would have had to plunge before Banks would be out of pocket.

youdao