Northern Rock, which was a building society in the United Kingdom, had a sudden bank run in September 2007.

北岩银行,是英国的一家建屋互助会,在2007年9月突然出现银行挤兑

耶鲁公开课 - 金融市场课程节选

This also came from a U.K. movement called the Building Society Movement, which spread to the U.S.

储贷协会也是源自英国的一场运动,叫做建房互助协会运动,同样也传到了美国

耶鲁公开课 - 金融市场课程节选

Northern Rock was a British building society that was investing in subprime paper in the U.S.

北岩银行是英国的一家建房互助协会,它曾在美国投资次级债券

耶鲁公开课 - 金融市场课程节选

The idea was that a lot of people can't afford a house -let's all get together and pool our money -in a Building Society or Saving and Loan Association -and then we'll loan out to some of us to buy the house.

当初的想法是,很多人都买不起房子,那我们就把钱凑在一起,放到一个建房互助协会或储贷协会里,然后向我们中那些要买房的人发放贷款

耶鲁公开课 - 金融市场课程节选