The problem is, if your brokerage firm fails you could lose a lot; you could lose your cash account and your security account.

可问题是,一旦经纪公司破产,你可能损失惨重,赔光你现金账户和证券账户上所有的资金

耶鲁公开课 - 金融市场课程节选

and then it looked like the people who had money and shares in them would lose.

看起来好像在该经纪行,存有现金和股票的公众要遭受损失了

耶鲁公开课 - 金融市场课程节选