许多的抵押都被证券化了，而资金的贷出者则比较分散，因此难以改变抵押的条款。
Many mortgages are securitized, and the lenders are dispersed and cannot easily alter the terms of the mortgage.
但是当意想不到的新借贷出现时，比如进行新一轮的银行疏困，那么债券投资者也许还是会受到惊吓。
Bond investors might still take fright if there is an unexpected rush of new borrowing-for a fresh bank bail-out, say.
华尔街以外的美国银行现在从一美元中贷出96美分，而欧洲大陆的银行则从每欧元中贷出1.4欧元，多出来的一部分向如今也没有信心的投资者借。
Continental European banks have lent roughly 1.40 euro for each 1euro of deposits. They have to borrow the rest from money-market investors, who are not especially confident just now.
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