Back in 2006 and 2007, commentators (including this one) warned about the rise in stock prices, housing credit and other forms of risky lending in several advanced economies. House prices are rising again. Stock indices have broken records. Derivatives with three-letter acronyms are back. So are long-forgotten old favourites, such as the “cov-light” loan (don’t ask). Should we be worried?
早在2006和2007年，評論家們（包括本人）紛紛對多個發達經濟體股價上漲、房貸和其他形式高風險貸款積累的現象提出過警告。如今，房價再度上漲，股指屢破歷史紀錄，三字母縮寫的衍生品（指MBS、ABS、CDO、CDS等——譯者注）卷土重來。“低門檻”(cov-light)貸款（別問我這是什么）等過去頗受青睞、但被遺忘已久的產品也宣告回歸。我們應該擔心嗎？
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