for all these securities--a lot of hedge funds going bankrupt.

很多对冲基金因此破产
Anyone with leverage borrowing more than five to one

任何杠杆借贷比例超过5:1的金融机构
to carry some very secure real securities,

会持有一些非常安全的债券
not subprime, but government-oriented securities

不是次级债而是政府导向债券
--those institutions got into trouble.

那些金融机构陷入困境
What we've had is basically melt in the financial markets,

金融市场融入了我们所拥有的一切
where the banks have been so severely impacted

银行受到非常严重的影响因此
that they have stopped lending to certain whole asset classes,

它们停止向某些特定资产类别的贷款
particularly leveraged lending,

特别是杠杆贷款
which we're involved with, as well as other areas.

如同其他领域一样我们也涉及到杠杆贷款
The costs of credit have gone up, sort of, 3%, 4%,

信贷的成本大概上升了3% 4%
which doesn't sound like much to you,

在你们听来好像不是很多