Now comes the murkier part: Many assets - particularly those that unregulated hedge funds can trade - are not as liquid as stocks, so they do not always have a definite price on the market.

现在来看一下更隐蔽的部分：许多资产都与股票不一样，尤其是那些非对冲基金可以交易的资产，所以他们不总是象股票在市场上有一个明确的价格。

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Hedge funds are private, largely unregulated pools of capital whose managers can bet on falling as well as rising asset prices, and participate substantially in profits from money invested.

对冲基金是一种私募的，相当大程度无监管的资本集合；通过基金经理压赌资产价格的上涨或下跌而分享可观的投资收益。

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Managers of the huge pools of unregulated capital called hedge funds had to pay only 15% tax while ordinary workers paid double, or more.

掌握不受监管的巨大资金池(称为“对冲基金”)的经理们只需缴纳15%的税，而普通工人的税赋则是他们的两倍甚至更多。

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But rating agencies should surely not be involved as supervisors of fund managers, especially of unregulated hedge funds: they ought to be backstops, not gamblers' stooges.

ECONOMIST: Credit-rating agencies

The Shays-Meehan bill would ban soft money -- unregulated, unlimited funds to political parties -- and it would raise the limit on hard money contributions to individual candidates.

CNN: Supporters vow to vote on campaign finance reform

The Shays-Meehan bill, like the McCain-Feingold legislation, would ban soft money -- unregulated, unlimited funds to political parties -- and would raise the limit on hard money contributions to individual candidates.

CNN: House to take up campaign finance reform