We had another recession in 1990-91 and it wasn't very big or bad.

我们在90-91年经历了经济衰退1,但是它并不广泛和严重。

耶鲁公开课 - 金融市场课程节选

The financial situation is not as bad as it was in the 1930s but it's getting bad and as a result we're starting to see proposals for big change.

现在的金融衍生工具已经不像当年那么拙劣了,但是它却开始走下坡路,所以最后的结果是,我们不得不准备着新的变革。

耶鲁公开课 - 金融市场课程节选