In the very first class of the semester the bad thing

在上半学期中我们遇到的坏情况
was a Prisoner's Dilemma,

叫做囚徒困境
but here it's a little different but let's focus on it a while.

这回有点不同我们再来好好看一下
So the bad thing is we ended up here.

坏消息是我们最后到达了这种结果
Not a disaster: the lender doubled her money.

虽不算太糟贷方获得了双倍收益
The borrower was able to go ahead with the project

而借方也获得了项目资金
on a small scale and make some money.

虽然说规模有点小
The bad thing, however,

然而这里的不足之处在于
is that we would have liked to end up here.

我们更希望达到这种结果
Had we been able to have a large project funded with $3

如果贷方能够贷出更多的项目资金如3美元
and had the borrower repaid those dollars,

而且同时借方也偿还了这些贷款
so matched in effort or whatever that happens to be,

借方不管如何惨淡经营