Well, they created special entities called SIVs and the SIVs would be borrowing money on the commercial paper market to buy subprime loans.

银行建立特殊实体结构投资公司,而结构投资公司,通过在纸货市场借贷,以购入次级债

耶鲁公开课 - 金融市场课程节选

The idea, of course, is that we have a legal entity--a corporation-- that issues shares that are either given to people or purchased by people and the idea is that shares represent contributions.

最初的做法是,一个法人实体即公司,发行股票,然后发放或卖给人们,理念就是,股票象征着贡献

耶鲁公开课 - 金融市场课程节选

A corporation is an entity that could be sued or could lose more money than it's worth, but the value of a corporation can never fall below zero to the investors because the investors are not liable for the mistakes of the corporation.

公司是一个实体,它可能被起诉,或者亏损额超过了自身的价值,但是对于投资者而言,公司的价值永远不会小于零,因为投资者对公司的过失,不负有责任

耶鲁公开课 - 金融市场课程节选