...我们认为以下两条是不证自明的真理: 1 每次都没什么不同,以及 2 每一次繁荣都会引发自掘坟墓的金融过度(financial excesses)。 正因为如此,它们才被称作经济周期。
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But financial excesses existed centuries before a brick had been laid on Wall Street.
但是金融过度在华尔街没有一砖一瓦的时候就已经存在了世纪有余。
All these legal changes could be rendered meaningless by the financial excesses of the past few years.
这些法律上的变更在过去几年发生的金融巨变面前显得毫无意义。
In many countries there are plans to give them responsibility for "macro-prudential supervision", an ugly term for fretting about financial excesses.
许多国家都计划赋予本国央行进行“广为谨慎的监管”之责任,以遏制金融过度。
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