2021考研英语：《经济学人》中英读译Day77

英语阅读能力依靠什么？必然是词汇的积累，但，仅仅是词汇的积累是不够了，更应该了解英语句式，不同句型所表达意义。如何培养自己的阅读语感呢？那么就跟着聚创考研网小编每天学一点英语，一起为考研筑起坚实的地基。阅读是需要积累的，就像我们需要经常和人沟通才会促进我们的表达能力一样~小伙伴跟着小编一起，每天坚持打卡，培养英语阅读能力及语感，了解文章一些经典词汇的用法。

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美国债券保险公司（2）

Moreover, as the public-finance market shrank it also convulsed.Insurers have suffered bigger-than-expected losses on muni defaults, from Detroit to PuertoRico.The latter's bankruptcy in 2017, designed to help it restructure $120bn of debt and pension obligations, has hit them particularly hard.

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此外，随着公共财政市场的萎缩，它也出现了动荡。从底特律到波多黎各，保险公司在市政债券违约上遭受的损失超过预期。后者在2017年破产，这对它们的打击尤为严重，破产本是为了帮助它重组1200亿美元的债务和养老金义务。

The $170m net loss under US GAAP made by MBIA in the latest quarter was largely down to Puerto Rico.The $720m MBIA is seeking from Citigroup, UBS and seven other banks matches the value of claims it has paid out on Puerto Rican contracts.It accuses them of creating "a financial abyss of historic proportions" by urging Puerto Rico toissue "unsustainable" debt,and making false or misleading disclosures on which the insurer relied.The banks' defence is likely to focus on the fact that bond insurers are hardly unsophisticated;insurers have long advertised their credit-surveillance skills.All of which suggests that post-crisis bond insurance is not for the faint-hearted.

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根据美国公认会计准则，MBIA最新季度净亏损1.7亿美元，其主要来自波多黎各。MBIA向花旗集团、瑞银和其它7家银行寻求的7.2亿美元赔款，与该公司对波多黎各合同的索赔金额相当。它指责它们敦促波多黎各发行“不可持续”债务并作出虚假或误导性的披露，以供保险人信赖。因此造成了“历史性的金融深渊”，银行的辩护很可能集中在债券保险公司并不单纯这一事实上；债券保险公司一直在广告中宣传它们的信用追踪技能。所有这些都表明危机后的债券保险并不适合胆小的人。

Last year David Einhorn became the latest in a long line of hedge funders to publicly short abond insurer,calling Assured Guaranty "a melting ice cube".The firm poohpoohed the critique, and many clearly think it has navigated the morass well:its share price is 50% above its pre-crisis peak (and 23% higher than when Mr Einhorn weighed in); MBIA's is down by 88%.This has allowed Assured to swoop in on some of the more attractive bits of rivals' books.It is also diversifying: on August 9th it acquired BlueMountain,a fund manager specialising in collateralised loan obligations—securities backed by leveraged loans,which fared better than mortgagebacked debt in the crisis and remain popular with yield-hungry investors.

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去年David Einhorn成为了公开做空一家债券保险公司的对冲基金投资人中的最新一员他称Assured Guaranty是“一个正在融化的冰块”。该公司对这一批评不屑一顾，许多人显然认为，它已经很好地渡过了困境：它的股价比危机前的峰值高出50%（比Einhorn先生介入时高23%）；MBIA的股价下跌了88%。这让Assured得以大举收购竞争对手的一些更具吸引力的资产。它也越来越多样化：8月9日，它收购了BlueMountain，一家专注于贷款抵押债券的基金管理公司—由杠杆贷款支持的债券，它在危机中的表现好于抵押贷款支持的债券并仍然受到渴望收益的投资者的欢迎。

注释

1.shrink 收缩

The market for their products is shrinking.

市场对他们产品的需求在减少。

2.bankruptcy 破产

The company filed for bankruptcy in 2003.

这家公司于2003年提交了破产申请。

3.misleading误导的

The article contains several misleading statements.

这篇文章有几处误导性说法。

4.faint-hearted 怯懦的

This is no time to be faint-hearted

现在不是怯懦的时候。

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