California is perhaps the most extreme example, because its state tax revenues depend so heavily on the equity premium.

由于税收收入高度依赖股票溢价，加州或许是最极端的例子。

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Many Banks in continental Europe have received "hybrid capital" from the state that does not count as pure equity (Banks in America and Britain, by contrast, were forced to raise straight equity).

许多欧洲大陆的银行已经从非纯股本国家那里接收了“混合资本”(与之相反，英美银行却被迫筹集直接股本)。

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The shares, also offered in the form of global depository receipts, represent a mere 10% of the bank’s equity, leaving a solid 75.5% still owned by the state.

这些股份还是以全球存托凭证的形式提供的 ，仅占该银行资产净值的10％，剩下固有的75.5％仍归国家持有。

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These members also sent letters and pertinent attachments to every state treasurer and attorney general in the country in August and again in November of last year urging a security-minded review of state equity and debt portfolios.

CENTERFORSECURITYPOLICY: Roger Robinson testimony on California Pension Funds

If the economy were then in a dire state, equity and property prices would have plunged and the assets would not cover the liability.

ECONOMIST: The retired are always supported by their children

And as we covered in our recent report on the state of private equity, two supply-side factors also could drive deal activity in the months ahead.

FORBES: Private Equity Deal Supply And Range Will Increase