1·So far most of the credit collapse in America has come from the demise of securitisation.
目前为止，美国大部分的信贷崩溃都源自于资产证券化的失败。
2·That was a perversion of securitisation, rather than an indictment of it.
这是证券化的一种失常，无法构成对其本身的一种控诉。
3·There were many reasons for the housing bubble that has now burst, from huge amounts of global liquidity seeking high returns to the rise of private-label securitisation.
在目前已经破灭的房地产泡沫背后，有着从追求高回报的海量全球流动性，到私人资产证券化的兴起等许多原因。
4·For a while, indeed, the securitisation boom made the old textbook role of Banks seem somewhat redundant.
的确，在一段时间，证券化的热潮让银行在教科书中的原始作用变得多余。
5·Eventually, he says, he would like to sell most of UniCredit's loans, once European securitisation markets are harmonised.
最终他提到，一旦欧洲证券化市场统一，他愿意售出大部分的联合信贷贷款。