Although Bear Stearns has not yet admitted which versions of these derivatives it held, one can glean some characteristics from letters the funds sent to investors months ago.
虽然贝尔斯登还没有确认持有的是哪一类衍生证券,我们可以从这些基金几个月前致客户的信函中窥得一些特点。
Countries could then reduce their dollar exposure without pushing down the dollar (although it is unclear who would bear any exchange-rate losses).
各国就可以减少美元储备而不用让美元贬值(虽然还不知道谁会汇率损失埋单)。
But although I laughed I couldn't bear to think about what could have happened.
虽然我也笑了,但我却不敢去想那些本来可能会发生的事情。
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