On that score the old system of historic-cost accounting was worse. In a crisis prices fall until bottom-fishers start to buy. Yet when assets were booked at their original price, rather than the market one, banks could delude themselves—and investors—that dross was gold. Under historic-cost accounting, the banks had every reason not to restructure assets, because that meant owning up to their losses. Look at Japan, where the economy was sunk for most of the 1990s by stagnant loans to “zombie” companies. Historic-cost left investors in the dark about valuations; it was also prone to fraud and fraught with moral hazard, since sloppy lending went unpunished.
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Have you settled yet when I must go?
我该什么时候走,你决定了吗?
Yet when he does show leadership, the public responds.
然而当它真正展现号召力时,公众便积极回应。
Yet when disaster strikes, doomsayers do not get to crow.
但当灾难真得袭来时,乌鸦嘴们不再聒噪。
Yet,when it comes to my own money, I spend it at the drop of a hat - immediately,without waiting.
VOA: special.2010.05.02
But yet when you look back from the nineteenth century, these factors do count in explaining how countries turn out to be the way they are.
不过当你从十九世纪开始回顾历史,这些因素的确能解释,国家是如何转变成现在这样的
But yet when you look at all of this, you can see that the kind of chaos, the political upheavals finds in response in the growth of central government authority and the growth of bureaucracies.
不过当你纵观全局时,你会看到这种混乱状态,特别是政治动乱是与中央政权,和官僚体系的发展紧密相关的
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