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

What they're really doing is just we're facing this seize up of our financial system so we have banks that we've just seen the failure of Bear Stearns which is actually a broker-dealer.

他们真正在做的只是,我们正处于金融体系失灵的阶段,所以我们有这种银行,我们刚刚目睹了经纪自营商,贝尔斯登的失败。

耶鲁公开课 - 金融市场课程节选