Banks and other financial institutions had doubts about the value of various asset-backed securities on their own balance sheets and on those of potential counterparties. No one knew the real value of credit-default swaps and of the various tranches of collateralized debt obligations.
我还强调，金融市场已经变得不正常了。银行和其他金融机构已经对自身以及潜在交易对手的资产负债表上各类资产担保证券的价值产生了怀疑。没有人知道信用违约掉期和各类债务抵押债券的真实价值。金融机构因此不愿借钱给其他金融机构。一旦信贷流中断，经济也无法继续扩张。