Investors relied far too much on the risk analysis coming from elsewhere in the investment decision process - mainly bond credit ratings.

投资人过于依赖投资决策过程中得出的风险分析，而这些分析主要都是债券信用评级。

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Institutional investment analysis adds the bond (usually American) option to the analysis.

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Mr Mack was the investment banker's investment banker: a charismatic former bond salesman driven by instinct as well as analysis.

ECONOMIST: Morgan Stanley