For decades, holders of the liabilities of Banks in the United States had felt secure with the protection of a modest equity-capital cushion, allowing Banks to lend freely.
几十年来，仰赖适度的资本缓冲的保护，美国各银行的债权人大有高枕无忧之感，从而放任了银行的信贷活动。
When, say, two types of asset were assumed to be uncorrelated, investors felt able to hold the same capital as a cushion against losses on both, because they would not lose on both at the same time.
比方说，当假定两种类型的资产是非相关的，投资者觉得可以用同一份资本作为两种资产损失的安全余量，因为他们不会同时亏损。
When, say, two types of asset were assumed to be uncorrelated, investors felt able to hold the same capital as a cushion against losses on both, because they would not lose on both at the same time.
比方说，当假定两种类型的资产是非相关的，投资者觉得可以用同一份资本作为两种资产损失的安全余量，因为他们不会同时亏损。
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