Default rates are shooting up and valuation of securitized subprime mortgages have crashed and it's throwing turmoil all over the financial community.

违约率飞速上升,对于次级抵押贷款的估值也失效了,这还导致了整个金融系统的混乱

耶鲁公开课 - 金融市场课程节选

The housing sector in the United States, you might say, is completely different from municipal bond insurers; but when the housing sector starts going down, people start defaulting on their mortgages.

你可能会说,美国房地产,是与市政债券保险公司完全不同,但是当房地产行业开始衰退,人们就开始对抵押贷款违约

耶鲁公开课 - 金融市场课程节选