Traders also started selling an even riskier product, called collateralized debt obligations, or CDOs.

交易员们也开始销售一种风险更大的产品，叫做债务抵押债券（CDOs）。

Everything else—from interest-rate derivatives to collateralised debt obligations should carry on unregulated and uninsured.

其他业务——从利率衍生工具到债务抵押债券——应继续不受监管，不受保护。

You mentioned Kyiv's decision to pause or ask for a pause on paying its foreign debt obligations.

你提到基辅决定暂停或要求暂停支付其外债义务。

U. S. Treasury Secretary Janet Yellen has said the country could default on its debt obligations as early as June 1st.

美国财政部长珍妮特·耶伦表示，美国最早可能在 6 月 1 日出现债务违约。

That compares with the $1trn market for collateralised debt obligations (or CDOs) in 2007, which were at the heart of the global financial crisis.

这与2007年1万亿美元的债务抵押债券(CDO)市场形成了鲜明对比，后者是全球金融危机的核心。

Now, Treasury secretary Janet Yellen has indicated that the Treasury could step in with a lifeline to help the government meet its debt obligations.

财政部长珍妮特·耶伦表示，财政部可能会介入经济命脉，帮助政府履行债务义务。

The last thing the U.S. economy needs is another confidence shock, such as a debate about whether the U.S. will honor its debt obligations.

美国经济最后需要的一件事就是另一场信任危机, 比如讨论美国是否将履行其债务偿还的义务。

You mentioned Kyiv's decision to pause or ask for a pause on paying its foreign debt obligations. That was a U-turn for Ukraine. How significant was this?

你提到基辅决定暂停或要求暂停支付其外债义务。那是乌克兰的掉头。这有多重要？

Instead, it continued to provide low-interest loans to middle America, especially to support homeownership; these debt programs gave people the illusion that their livelihoods were improving even as their wages were falling and debt obligations were rising.

相反，它继续在走给中产阶级提供各种低息贷款，尤其是住房贷款的老路，这些贷款则会给人们造成一种生活水平已经有所改善的错觉，而事实上，他们不仅工资在缩水，债务还在增加。