But investors will have to work to separate the prudent from the profligate.

但是投资者将不得不区分挥霍浪费的州和审慎的州。

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Before the credit crisis started to brew, investors were almost as keen to own the public debt of profligate Italy as that of prudent Germany.

就在信贷危机酝酿之前，投资者对挥霍无度的意大利公债的热情甚至不亚于对节俭的德国国债的热衷。

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As a result, municipal defaults should remain low relative to similarly rated corporate credit, argues Mr. But investors will have to work to separate the prudent from the profligate.

Friedlander先生认为，最终市政债券的违约率相对类似评级的公司债券而言应该是比较低的。但是投资者将不得不区分挥霍浪费的州和审慎的州。

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You're penalizing the prudent to rescue the profligate.

NPR: Mortgage Modifications Won't Benefit Everyone

Deflation rewards the prudent saver and punishes the profligate borrower.

FORBES: Fear Not Deflation

Why does Washington willfully reward the profligate by cheating the prudent?

FORBES: You Call It Inflation, I Call It Theft