but it was trying to eliminate a moral hazard problem.

可它正努力消除道德风险问题
We have instead of--we've replaced the aid to families

我们用EITC取代了
with dependent children with a more generous EITC.

失依儿童家庭补助
You see that it has very different moral hazard implications.

你发现它蕴含了一项截然不同的道德风险
To get Earned Income Tax Credit you've got to have a job and

要获得EITC 你就得先有工作
it can't just be a token job because you don't--

不能只是一份象征性的工作
it says the negative tax is a function of your income.

它预示着逆税是你收入的一项功能
I take this as signs of past progress

我认为这是过去发展
that will continue in the future.

将在未来延续的信号
I wanted to talk about bankruptcy briefly here

我现在想简单谈论破产问题
because that is something that I mentioned

因为我提及的东西
is very important risk management device and

是非常重要的风险管理手段