The problem is, if your brokerage firm fails you could lose a lot; you could lose your cash account and your security account.

可问题是,一旦经纪公司破产,你可能损失惨重,赔光你现金账户和证券账户上所有的资金

耶鲁公开课 - 金融市场课程节选

Then I'll take money out of your cash account and I'll put it into these securities.

买的话我就从你的账户中取现,再存入证券账户中

耶鲁公开课 - 金融市场课程节选

When you go to Rome, you can walk and see what's left of their stock market.

如果你去罗马的话,可以去看看当时证券市场的遗迹

耶鲁公开课 - 金融市场课程节选

you wouldn't go to a pure investment bank either and say I want to buy a hundred shares of Ford Motor Company, ? where is your stockbroker?

你不能去一个真正的投行然后说,我想买几百股福特汽车的股票，你的证券公司在哪里？

耶鲁公开课 - 金融市场课程节选

There's maybe about three trillion dollars worth of stuff backed by mortgages out there Well, as you've seen, these have produced crisis of confidence and I don't think we've heard the last of it.

现在大概有价值三万亿美元的有抵押证券,在市场上流通,就像你所看到的那样，这些证券已经导致了,市场信心的丧失，而且我个人认为这还完全没有结束。

耶鲁公开课 - 金融市场课程节选

In other words, if you had an account at a brokerage and you thought you had a hundred shares of IBM and now the broker is going bankrupt -the broker won't answer your email anymore and he's just gone you go to SIPC and say, I had these hundred shares.

换句话说,如果你在一家经纪公司,设有账户,其中有IBM的100股股份,现在经纪行破产了,经纪行不再回复你的邮件,消失了,你告诉证券投资者保护公司,我有100股IBM的股票

耶鲁公开课 - 金融市场课程节选