At the age of 22, he registered his business, Bernard L. Madoff Investment Securities.

22 岁时，他注册了自己公司，伯纳德·麦道夫证券公司。

Well, traditionally, banks themselves get to say how risky their loans and securities investments are.

传统上，银行自己可以说他们贷款和证券风险有多大。

At the same time, credit ratings agencies were telling investors these mortgage backed-securities were safe investments.

与此同时，信用评级机构也在告诉者这些抵押贷款持证券是安全。

The European Investment Bank could also ease credit by taking a “first-loss” position in SME-backed securities.

同时，在中小型企业证券中，欧洲银行也可以有损失时首当其冲，从而放松信贷。

Have recent times shown they need, these investors, the same kind of protections that other investors in, say, securities would want?

最近情况是否表明，这些者需要与其他者(比如证券者)受到同样保护?

For finance, we have Samsung life insurance, securities, investment trust management, venture investment.

金融方面，我们有三星人寿保险、证券、信托管理、风险。

There were generally a few rioters around but they never came into the library so it was a good place to work.

饭后我会去楼上，聚精会神地研究一小时和证券。

And so the investment strategy makes it much harder to be invested in, you know, long-term securities, right?

因此，这种策略使得长期证券变得更加困难，对吗？

The data show that America's banks in aggregate have more than $500bn in such losses on their securities portfolios.

数据显示，美国银行在其证券组合中此类损失总计超过 5000 亿美元。

By the end of last month, the newly established Beijing Stock Exchange had more than 4.8 million qualified accounts.

截至2022年1月底，新成立北京证券交易所者数量超480万户。

ASIC has been called out for its ineffectiveness since the early 1990s, complains Allan Fels, a former chairman of the competition commission. What's different now?

“自20世纪90年代开始，澳大利亚证券和委员会就因其效率低下而被召集，”竞争委员会前主席艾伦·菲尔斯抱怨称。“现在又有什么不同呢？”

A 2011 survey by Coller Capital, a private-equity investor, found that half the industry's backers have at least one zombie-run fund in their portfolio.

2011年私募者Coller Capital进行调查发现，半数产业赞助者在他们证券组合中至少拥有一停滞基金。

During the 2008 financial crisis, risky or subprime mortgages were often grouped together and sold to investors as a mortgage-backed security.

2008 年金融危机期间，高风险抵押贷款或次级抵押贷款经常被组合在一起，作为抵押贷款持证券出售给者。

And then you also have any bank which has more longer-dated securities investments that they've made around, you know, longer-dated US treasuries and things like that.

然后银行还有更多长期证券，长期美国国债之类东西。

Almost all the employees in his brokerage firm, Bernard L. Madoff Investment Securities, were kept out of that part, and had no idea what went on inside.

他经纪公司伯纳德·L·麦道夫证券公司几乎所有员工都不准出入他办公，也不知道里面发生了什么。

Vision Capital, based in London, specialises in buying entire portfolios of companies previously owned by private-equity firms, thereby taking over the assets of a zombie fund.

总部在伦敦Vision Capital专注于购买之前私募股权公司拥有整个公司证券组合，因此接手僵尸基金产。

In 2015 American money-market funds were liberated from having to use credit ratings as their only metric for deciding whether to invest in securities.

2015年，美国货币市场基金不再需要使用信用评级作为决定是否证券唯一指标。

(Laughter) My side is that cryptocurrencies are not investment securities and they should not be regulated by financial regulators in the United States or anywhere else.

（笑声）我观点是，加密货币不是证券，它们不应受到美国或其他任何地方金融监管机构监管。

Rather than paying out money with no prospect of a return, investors would far rather see the underlying portfolio companies sold, even at a loss, and the fund wound up.

与其为无回报前景花费，者更倾向于潜在证券组合公司，即便是亏本，这样基金上涨。

Now, on the class who take an active interest in their stock exchange investments, especially if they are employing borrowed funds, this naturally exerts a very depressing influence.

现在，对于那些积极从事证券交易所阶级，特别是如果他们使用借来金，这自然会产生非常令人沮丧影响。