尽管在1998年信用危机后其风险管理的水平已经得到提升，投资银行还是为他们现在的不透明性付出了代价。
Investment Banks are now paying for that opacity, even though their management of risk has improved since the last credit crisis in 1998.
然而一旦出现危机，市场里最大的竞争者—银行、投资银行和对冲基金—急忙减少他们的风险，然后买家消失了，资金也失去流动性。
Whenever a crisis hits, however, the biggest players-banks, investment Banks, hedge funds-rush to reduce their exposure, buyers disappear, and liquidity dries up.
投资者担心Itau和Unibanco及其客户在危机中的风险敞口可能在开始时并不显而易见，两家银行的股票上个月随之大幅下挫。
Shares of Itau and Unibanco plunged last month amid investor concerns that the lenders and their clients may be exposed to the crisis in ways that weren't obvious at first.
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