This thing collapsed in the 1980s and it cost the U.S. Government, through the FSLIC, about 150 billion dollars.

0世纪80年代,坏账集中爆发,美国政府经联邦储蓄贷款保险公司之手,花费了约1500亿美元才填补了坏账

金融市场课程节选 : 耶鲁公开课

For Savings and Loans, they had an organization called the FSLIC, which is now defunct because of this crisis -Federal Savings and Loan Insurance Corporation -it was insuring deposits of Savings and Loans.

针对储蓄贷款协会,他们成立了一个名为FSLIC的组织,由于次贷危机,该组织已经不复存在了,...全称是联邦储蓄贷款保险公司,它为储蓄贷款协会的存款进行保险

金融市场课程节选 : 耶鲁公开课

But the FSLIC wasn't; it was sleeping at the switch, so it allowed banks in the United States -it was primarily Savings and Loans who did this -to make bad loans and they were playing this moral hazard game.

但是FSLIC没有如此,制度变换初期他们对一切放任不管,于是这让美国的银行...,主要指的是那些储蓄贷款机构...,发放不良贷款,他们开始参与这项充满道德风险的游戏

金融市场课程节选 : 耶鲁公开课