Mortgage backed-securities are created when large financial institutions securitize mortgages.

押贷证券是型金融机构将押贷证券化时产生。

That's result of the settlement over sour mortgage-back securities with federal housing finance administration.

这笔费用是为解决与美国联邦住房金融局在不良押担保证券上纠纷。

Investors gobbled these mortgage backed-securities up.

投资者们把这些押贷证券抢购一空。

The Fed says it will spend $40m a month buying mortgage backed securities. Here is Mark Gregory.

美联储称将每月开4000万美元购买押贷证券。马克·格雷戈里道。

The Fed also decided to begin reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities.

美联储还决定开始减国债、机构债务和机构押贷证券。

At the same time, credit ratings agencies were telling investors these mortgage backed-securities were safe investments.

与此同时，信用评级机构也在告诉投资者这些押贷证券是安全投资。

Mortgage bank securities became known as toxic assets, no one wanted to be anywhere near them.

押贷银行证券被称为有毒资产，没人愿意接近。

Fannie and Freddie maintained a huge mortgage securities market.

房利美和房地美维着庞押贷证券市场。

So, lenders did their best to help create more of them.

因此，贷人尽其所能地帮助产生更多押贷证券。

Anyway, investors were desperate to buy more and more and more of these securities.

不管怎么说，投资者都急于购买越来越多押贷证券。

They gave a lot of these mortgage backed-securities AAA Ratings, the best of the best.

他们给了很多押贷证券AAA评级，也就是最佳评级。

And back when mortgages were only for borrowers with good credit, mortgage debt was a good investment.

当押贷只适用于信用良好借人时，押贷证券是项不错投资。

It bought trillions of dollars of mortgage-backed securities and government bonds.

它购买了数万亿美元押贷证券和政府债券。

The blow-up did not even require actual defaults in mortgage-backed securities.

爆炸甚至不需要押贷证券实际违约。

The Department of Justice accused them of defrauding investors by selling residential mortgage-backed securities deals.

司法部指控他们通过出售住宅押贷证券交易来欺骗投资者。

The savings-and-loan crisis of the 1980s contributed to the rise of mortgage-backed securities as the primary funding source for home loans.

20世纪80年代储蓄和贷危机推动了押贷证券兴起，成为住房贷主要资金来源。

In the past investment-bank earnings were more tied to the economy, thanks to fat portfolios of assets like mortgage-backed securities.

过去，由于押贷证券等资产组合丰厚，投资银行收益更多地与经济挂钩。

Not every mortgage-backed security was worthless, and not every bank was awash in bad bets.

并非每一种押贷证券都一文不值，也不是每家银行都充斥着糟糕赌注。

But to create more of them, they needed more mortgages.

但为了产生更多押贷证券，他们需要更多押贷。

The industry sprang up in the 1970s, first focusing on municipal debt and later branching out into structured products like mortgage securities.

这个行业在20世纪70年代兴起，起初它们专注于市政债券，然后拓展到结构性产品，比如押贷证券。