美国国际集团假设，保险将比担保债务凭证价值更高。
AIG had assumed that the insurance would be valued more highly than the CDOs.
到2006年，MBIA开始参与到风险更高的为担保债务凭证提供担保的业务中。
By 2006 MBIA had plunged into the much riskier business of guaranteeing collateralized debt obligations, or C.D.O. 's.
工程师设计出金融衍生物并把资产证券化，从简单的利率期权到错综复杂的信用违约互换和担保债务凭证。
The engineers designed derivatives and securitisations, from simple interest-rate options to ever more intricate credit-default swaps and collateralised debt obligations.
具有戏剧性的是，在这长达10多个小时的听证会中，双方一直在就担保债务凭证(CDO)是否为一款“垃圾”产品而争锋不下。
The roasting, which lasted more than ten hours, was as dramatic as any hearing focused largely on synthetic collateralised-debt obligations (CDOs) could be.
我们举个快速增长的上市交易信用产品的例子，诸如资产担保证券和担保债务凭证，以及由资产担保证券作为组分的担保债务凭证。
Take the growth of traded credit products, such as asset-backed securities and CDOs made up of them.
但在之后数周内，美国国际集团及普华永道(PwC)的审计师开始怀疑这家保险商为担保债务凭证估值的方法，这些方法继而决定美国国际集团提供的信用保护的价值。
But in the following weeks AIG and its auditors at PwC began to have doubts about the way the insurer was valuing CDOs, which in turn determined the value of the credit protection AIG had provided.
英格兰银行（Bank of England）行长默文·金（Mervyn King）几天前谈到，在这个世界已经从“我的承诺就是我的债券”变成了“我的承诺就是我的双层担保债务凭证（CDO squared）”的时候，该如何重塑信心。
Mervyn King, the head of the Bank of England, talked a few days ago about how faith could be restored in a world where "my word is my bond" had been replaced by "my word is my CDO squared".
英格兰银行（Bank of England）行长默文·金（Mervyn King）几天前谈到，在这个世界已经从“我的承诺就是我的债券”变成了“我的承诺就是我的双层担保债务凭证（CDO squared）”的时候，该如何重塑信心。
Mervyn King, the head of the Bank of England, talked a few days ago about how faith could be restored in a world where "my word is my bond" had been replaced by "my word is my CDO squared".
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