Since the 1990s, we've seen a proliferation of new kinds of mortgages that especially are offered to low-income people by certain lenders.

从20世纪90年代,我们看到一种新型抵押贷款在快速发展,它由特定贷款人向低收入人群发放

耶鲁公开课 - 金融市场课程节选

Low-income people were being given adjustable rate mortgages with very low starter rates, called "teaser rates," " that would be raised in the future.

低收入人群贷款时会享受到刚开始利率巨低的可调利率,但是随着时间的推移利率会慢慢增长“,这就是所谓的“引逗利率。

耶鲁公开课 - 金融市场课程节选

The problem is then that these were sold to low-income people, in many cases, who didn't understand what they were getting and that after two years the interest rate would reset up.

问题是贷款在一开始是发放给低收入人群,很多情况下,那些人并不理解这种贷款,或者说他们不知道利率在两年后会重设

耶鲁公开课 - 金融市场课程节选

They are borrowers that are thought, by the various models, to be likely to fail to pay on their mortgage and to have to be foreclosed; often low income, but also they're people with poor credit histories.

通过一些模型的计算,这些借款人,很有可能无法偿付贷款,抵押房产会被贷款人收回,借款人通常属于低收入人群,而且这些人没有很好的信用记录

耶鲁公开课 - 金融市场课程节选

It's important--that's one reason why we want policies that encourage equality of incomes-- not necessarily equality, but reasonable equality-- because the people with very low wealth have a very high marginal utility of income and people with very high wealth have very little.

这非常重要,我们需要通过政策,来引导收入公平的一个原因就是这个,不是绝对的平等,是相对的平等,因为那些低收入的人群,对收出的边际效应相当的高,而高收入人群的则小得多

耶鲁公开课 - 金融市场课程节选