Question

谁能帮我翻译一下这几句话，不要有道，google的直译。

1、as in many episodes of financial stress，uncertainty about possible forced sales by leveraged participants and a higher cost of risk capital seem to have made investors hesitant to take advantage of possible buying opportunities．

2、Good reasons can still be advanced for shifting exposure from the balance sheets of thinly capitalized banks to those of better capitalized outside investors．

3、In the short run, securitized debt is likely to contract，as existing debt is paid down or written off． In the longer term, intermediaries will have to find a way to make their products more transparent to the buyers．

4、It showed the normal pattern of rising prices of assets，expanding credit，speculation, excess, then falling prices，default and finally panic．

Answer 1

1、来自繁琐的财务压力，被杠杆举债投资者出售资产的不确定性和上升的风险资本成本三方面因素综合，似乎已经使得投资者犹豫是否利用潜在的买进机会。

2、好的分析理由依然是奏效而有益的，可将资产从资本充足的银行与资产负债表的平衡到外部投资者更好的资本化的过程更加透明。

3、在短期内，证券化债务有可能浓缩，鉴于为现有的债务是以被偿还或被注销的方式完成的现状。从长期来看，金融中介机构将不得不找到一种方法，使他们的产品对买家更透明且可观。

4、数据（或表格/资料）表明资产价格上升的常模，伴随着信贷扩张，投机，超支，继而价格下跌，失败并导致最后群众的恐慌。

Answer 2

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