The forth chapter analyze the credit default risk of the consumer and then recommend the methods of the risk control of auto financial company.

第四章，从博弈论的角度分析了消费者的信贷违约风险，从而提出汽车金融公司的风险控制手段；

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Due to the Treasury of the debtor is country, its repayment guarantee is the national fiscal revenue, so it is almost no credit default risk, financial market risk minimum credit instruments.

因国库券的债务人是国家，其还款保证是国家财政收入，所以它几乎不存在信用违约风险，是金融市场风险最小的信用工具。

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Of the three firms, AIG represents their best hope, even though its credit spreads are still at levels that suggest a real risk of default.

尽管AIG的信贷息差水平仍然存在违约的实际风险，但在这三家公司当中，AIG仍是它们最大的希望。

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Another benefit is that bond funds spread out their positions over many individual issues, and this can reduce credit (default) risk.

FORBES: 5 Reasons Why Bond Funds Can Help You Navigate Bond Market Headwinds Successfully

Credit derivatives have made it easier to separate the credit risk (the danger of default) of bonds from the interest rate risk.

ECONOMIST: The credit squeeze

As I explain in this paper, credit derivatives are merely a financial tool that can be used by those exposed to credit risk, say a default by the Greek government or General Electric, to share that risk with others.

FORBES: Credit Derivatives Don't Kill Countries, Politicians Do