There were bumps along the way, such as the near-collapse of Long-Term Capital Management (LTCM), a hedge fund, and the dotcom bust, but each time markets recovered relatively quickly.

前进的道路上亦有坎坷，比如说长期资本管理公司（LTCM）和对冲基金的近乎崩溃，网络泡沫，但是每一次，市场总能快速恢复。

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They are naturally keen to avoid a repeat of 1998, when the collapse of Long-Term Capital Management (LTCM) prompted a liquidity crisis.

他们致力于避免重蹈98年的覆辙，当年，长期资本管理的崩溃引起了一场流动性危机。

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But, in 1998, when Long Term Capital Management ("LTCM") blew up, it nearly brought down the financial system. The problem was excessive leverage as reflected in the financial sector debt.

但是，1998年LTCM危机几乎拖垮整个金融体系，问题在于金融借贷反映出过度的金融杠杆率。

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But, in 1998, when Long Term Capital Management ("LTCM") blew up, it nearly brought down the financial system. The problem was excessive leverage as reflected in the financial sector debt.

但是，1998年LTCM危机几乎拖垮整个金融体系，问题在于金融借贷反映出过度的金融杠杆率。

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