Worse, many of these projects have been partly financed by complex loans taken out before the subprime crisis, on which interest rates are now soaring.

更为糟糕的是，其中很多工程的资金是在次贷危机发生之前，通过复杂的借债手段拿到的，而现在，利率一直走高。

youdao

The years leading up to the 2008 crisis were indeed marked by unsustainable borrowing, going far beyond the subprime loans many people still believe, wrongly, were at the heart of the problem.

没错，08年危机前那些年份主要以难以持续的借贷作为特征，远远超过了次贷的范围。 许多人错误地认为这些贷款是问题的核心。

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The market has been hit by a combination of falling home prices and the subprime mortgage crisis involving high-interest loans.

房产市场一直受到房价下降以及高利率贷款的次级房贷抵押危机的冲击。

youdao

Today, those clouds loom because of the subprime loans and the credit crisis.

FORBES: This Is Not 1987

In that sense, credit applications aren't much different from the so-called stated-income mortgages that came to be called "liar loans" during the subprime crisis.

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In America and Germany, where many subprime loans have ended up on banks' balance sheets, the liquidity crisis has been managed smoothly, whereas in Britain, with low arrears, a bank with a high-quality loan book nonetheless found itself in a situation where its retail depositors temporarily felt threatened.

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