They didn't want flippers; they didn't want the company that's speculating in real estate, they want it to be a holder of real estate.

国会不希望投资者快进快出,不希望他们在房地产市场投机,而是希望他们是房地产的持有人

耶鲁公开课 - 金融市场课程节选

people own bonds without reading the indenture.

债券持有人并不去阅读契约。

耶鲁公开课 - 金融市场课程节选

Well after that, the bond price went up because people saw that as a sign that the company was tightening its belt and doing things right to have money to pay off the bondholders; so it was self-interested, I suppose--maybe you can ask him about this.

在这之后,债券的价格升高了,因为人们认为降低红利是一个信号,说明公司开始紧缩开支走向正轨,并且去偿付债券持有人,莱德利夫通过这种做法达到利己的目的,我想你们可以就此事向莱德利夫提问

耶鲁公开课 - 金融市场课程节选