求翻译啊，要自己译的哦

Question

Making matters even worse, these problems led to what is euphemistically referred to as the “credit crunch.” Credit crunch, or credit crisis, means a financial environment where investment capital is in short supply and only made available at a high cost and to a more limited set of borrowers. The typical debt-to-equity ratios have been skewed, and there is a mad push to raise equity pools of capital to offset the lack of availability and accessibility to the credit markets that usually are the drivers of real estate transactions and the housing markets. It is a period where growth in debt money slows down, which subsequently leads to a drying up of liquidity in an economy. In such a situation, the banks will not or cannot lend, and investors cannot or will not buy debt. It is characterized by a reduction (usually a sudden reaction, thereby resulting in a “crisis”) in the availability of loans or an increase (and in this case, a very sudden one) in the cost of obtaining a loan from the banks. Because of the huge losses suffered by mortgage lenders and investment banks, commercial banks in general became wary of offering credit to subprime borrowers. Because the debt instruments were both riskier and more opaque and complex—in particular, the CDOs—the markets in those instruments became illiquid and the ability to sell the instruments and realize cash was diminished.
But then the crisis moved even beyond the general securities market. The multidimensional drying up of liquidity characterized by diverse concerns led to an even wider crisis—what is referred to as a “credit/liquidity crunch,” which is affecting all types of transactions, beyond real estate—and has crept into merger-and-acquisition deals and general business growth financing. While this universal caution in the credit market may not necessarily have bad effects, and may even promote responsible lending, it is characterized by an increased pessimism about the creditworthiness of the participants in such a market. This has resulted in banks hoarding liquidity and making access to credit difficult.

Answer 1

Making matters even worse, these problems led to what is euphemistically referred to as the “credit crunch.”
如果事情会变得更糟，那就是这些问题间接地导致了我们所谓的“信贷紧缩”
Credit crunch, or credit crisis, means a financial environment where investment capital is in short supply and only made available at a high cost and to a more limited set of borrowers.
信贷紧缩和信誉危机，也就是说在金融市场中，你的投资资金变得短缺，仍花费的代价变得高昂，而在借贷方面变得更为紧蹙。
The typical debt-to-equity ratios have been skewed, and there is a mad push to raise equity pools of capital to offset the lack of availability and accessibility to the credit markets that usually are the drivers of real estate transactions and the housing markets.
典型的在债务和债权收益方面的失衡，并有一个让投资资本疯狂升值的“资产泡沫池”用来抵消和填补信贷市场的缺口，然后再次从信贷市场贷出。通常这种现象出现在房地产和住房市场的交易方面。
It is a period where growth in debt money slows down, which subsequently leads to a drying up of liquidity in an economy.
在这个时期中的经济，债务资金的增长将逐渐放缓，最后流动资金会变得越来越枯竭
In such a situation, the banks will not or cannot lend, and investors cannot or will not buy debt.
在这种经济情况下，银行将没有或者根本没有能力去贷出资金，还有投资者也不再有能力去购买任何债券。
It is characterized by a reduction (usually a sudden reaction, thereby resulting in a “crisis”) in the availability of loans or an increase (and in this case, a very sudden one) in the cost of obtaining a loan from the banks.
它（这种现象）的特点是在提供贷款的“骤减”和从银行借贷成本的提高（通常是突然地出现，从而形成一种危机）（在这个案例中，就是如此）
Because of the huge losses suffered by mortgage lenders and investment banks, commercial banks in general became wary of offering credit to subprime borrowers.
由于各类贷款抵押银行和各类投资银行从中受到巨额亏损，它们将会对次级抵押贷款人变得非常谨慎。
Because the debt instruments were both riskier and more opaque and complex—in particular, the CDOs—the markets in those instruments became illiquid and the ability to sell the instruments and realize cash was diminished.
由于债务工具的不透明导致各类风险变得更大更复杂，特别是在CDO中，这些工具在市场中成为保持市场流通和提高销售的手段，从而减少资金支出
but then the cisis moved even beyond the general securities market.
但随后出现的危机的扩散甚至超过了整个证券市场
The multidimensional drying up of liquidity characterized by diverse concerns led to an even wider crisis—what is referred to as a “credit/liquidity crunch,” which is affecting all types of transactions, beyond real estate—and has crept into merger-and-acquisition deals and general business growth financing.
各类市场资金的干涸导致了更为广泛的危机--涉及到“信贷/流动性紧缩”它们影响到房地产市场的各类交易，多样的流动性特点已经进入公司之间的合并和一般的企业并购交易以及融资业务的增长当中
While this universal caution in the credit market may not necessarily have bad effects, and may even promote responsible lending, it is characterized by an increased pessimism about the creditworthiness of the participants in such a market.
虽然目前信贷市场的普遍谨慎未必会产生什么不良影响，甚至可能促进责任贷款的发展，然而不好的是它将对信贷市场的参与者信誉产生悲观的影响
This has resulted in banks hoarding liquidity and making access to credit difficult.
这就造成了银行流动性的减弱，进行信贷业务的困难

Answer 2

使事情更糟，导致了什么是委婉地称为“信贷紧缩对这些问题。”信贷紧缩，或信用危机，是指金融环境，投资资金的短缺，只可在高昂的代价，并一更有限的借款人。典型的债务与权益比率已经扭曲，
并有一个疯狂的推动提高资本资产池，以抵消提供和获取的信贷市场，通常是房地产交易的司机和房屋市场的不足。这是一个时代的债务货币增长放缓，随后导致流动资金枯竭在经济。在这种情况下，银行不会或
能不能借，投资者不能或不买的债务。它的特点是减少（通常是突然的反应，从而造成“危机”在提供贷款或增加（在这种情况下，一个很突然的一个从银行取得贷款的成本））。由于受抵押贷款银行和投资银行，商业银行在克所遭受的巨大损失
eneral成了警惕提供次级抵押贷款借款人。由于债务工具都是不透明的风险更大，更复杂，特别是CDO中，在这些文书的市场成为流动性和销售能力的手段，实现现金减少。
但危机的速度甚至超出了市场的整体证券。干燥的多维所导致更广泛的危机，什么被称为“信贷/信贷收缩”，这是影响所有类型的交易以外的房地产，多样的关切和流动性的特点已经悄悄进入合并和-和一般的企业并购交易融资业务增长。
虽然这在信贷市场普遍谨慎未必有不良影响，甚至可能促进负责任的贷款，它的特点是对在这样的市场参与者的信誉日益悲观。这就造成了银行流动性，使囤积获得信贷的困难。

累……

Answer 3

令情况更糟的是,这些问题导致了空子称为“信贷紧缩的信贷紧缩。”,或信贷危机,意味着经济环境中,投资是供不应求,只有在高成本和局限性的借贷者。典型的债转股比率已被歪斜、有一个疯狂的推动股权的提高来弥补不足的可用性和可用性,通常是信贷市场的房地产交易的司机和住房市场。这是一个时期生长在债务货币慢下来,随后导致流动性枯竭的经济。在这种情况下,银行不愿或不能出借、投资者不能或不愿购买债券。它的特点是减少(通常是一个突然的反应,从而导致了“危机”)所能获得的贷款或增加(在这种情况下,一个很突然的人)的费用从银行获得贷款。由于巨大的损失,通过抵押贷款和投资银行、商业银行提供贷款的通用成为对次级借贷者。因为债务工具都是高风险、更加透明和complex-in CDOs-the市场,这些工具的能力成为流动性差、仪器、实现销售的现金减少。
但是随后的危机,甚至超过了通用移动的证券市场。流动性枯竭的多维具有多样的问题导致了一个更广泛的crisis-what被称为“信用/流动性危机”,它是影响所有类型的交易,超越真实estate-and已爬进merger-and-acquisition交易和一般业务增长的融资。而这一警告在信贷市场可能不一定有不良影响,甚至会促使贷款,它的特点是不断增加的悲观看法的信用度参与者在这样的市场。这导致了银行的流动性和囤积贷款难