it's hard to understand how you can have a liquidity problem

很难理解在你毫无偿付能力的情况下
without at least the possibility of a solvency problem.

怎么会出现资金流动性问题
And once you have the possibility of a solvency problem,

而一旦你拥有了偿付能力
it becomes less clear

事情就变得扑朔迷离了
just how much you're making everybody better off by lending the money

通过借贷或者允许项目部分完工的手段
or by allowing the projects to be partially completed.

能在何种程度上提高人民的生活水平
Nonetheless, this liquidity--

尽管如此流动性
is idea that was the justification,

尽管如此戴蒙-戴维格
albeit without mentioning Diamond or Dybvig's name,

即使没有提到戴蒙或戴维格的名字
that Secretary Rubin and I used in explaining to President Clinton

国务卿鲁宾和我常用此向克林顿总统解释说
why it was important that we support Mexico in 1995

为何我们在1995年支援墨西哥很重要
and in countless other efforts of

我们付出的数不尽的努力