Now, assuming that we trust the government-- I think the U.S. Government has never defaulted on its debt-- we'd take that as a riskless return.

假设我们信任政府-,假设美国政府从未拖欠债务-,可以把它当作无风险回报。

耶鲁公开课 - 金融市场课程节选

In 1998 there was the Russian default crisis and then there was some seize up of that maybe resembles what is happening now.

998年，俄罗斯拖欠债务危机爆发,那时有一些失灵,那个状况有些像现在发生的状况。

耶鲁公开课 - 金融市场课程节选

Troubled banks then who have this the problem banks have now is they have these securitized mortgages that they've bought and the homeowners are defaulting on the mortgages now.

于是出于困境中的银行,现在银行的问题在于,他们持有自己买的,证券化按揭贷款,而房屋持有者却,对抵押借款拖欠。

耶鲁公开课 - 金融市场课程节选