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

But in many cases firms do a mixture of different activities one of which is investment banking.

但是大部分情况下，公司做各种各样的业务,其中一个就是银行投资业务。

耶鲁公开课 - 金融市场课程节选

The SIV really was a liability but it wasn't visible to investors investing in the bank.

结构投资公司本身就是债务,但银行的投资者们并不了解这点

耶鲁公开课 - 金融市场课程节选

In the SIV contract, there was some language that implied that if the SIV ever went bankrupt, the bank would come back and rescue them.

结构投资公司的合同中包含着这样的条款,如果结构投资公司破产,银行会拯救他们

耶鲁公开课 - 金融市场课程节选

Investment banking had to be a separate firm.

投资银行业务必须由独立公司承担。

耶鲁公开课 - 金融市场课程节选