来自《耶鲁大学开放课程：金融市场 第5集 第5集》

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  The subprime crisis is happening today
  次贷危机之所以会发生
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  because home prices are falling
  时因为房屋的价格在下降
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  and with falling home prices more subprime borrowers
  随着房屋价格的下降更多的次贷借款人
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  are failing to pay their mortgage.
  将会无法支付他们的贷款
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  Default rates are shooting up
  违约率飞速上升
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  and valuation of securitized subprime mortgages have crashed
  对于次级抵押贷款的估值也失效了
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  and it's throwing turmoil all over the financial community.
  这还导致了整个金融系统的混乱
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  We're seeing what they call systemic effects--
  我们现在看到了它的系统性作用
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  that's a very general term that goes beyond insurance.
  其影响远远超出了保险业自身
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  By systemic effects,
  通过这种系统性作用
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  I mean something that affects the whole financial system.
  我指的那种影响整个金融体系的作用
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  When you do these calculations,
  当你试图去