Sowood was caught out in two ways: it over-borrowed and its hedges failed to neutralise its risks as expected.
So wood在两方面出了事：它举债过度，且对冲基金未能如愿化解风险。
2
Although many other big firms resisted the temptation to over-borrow, developers borrowed heavily and built bigger and fancier hotels as if the whole world were planning a holiday in Las Vegas.