银行和抵押贷款机构向毫无信誉的房主提供信贷，因为他们相信，通过将这些贷款打包，风险可能会降低。

The financial wizardry fuelled a housing market boom as speculators snapped up houses they never intended to live in to build up their "collateralised" portfolio.

投机者抢购他们从未打算居住的房子来建立“抵押”投资组合，金融魔法促成了一场房地产市场的繁荣。

The bust came when investors realised that the flip-side of packaging risk together was that they could not tell where the bad loans were lurking.

当投资者意识到打包的风险在于他们无法判断不良贷款的所在时，泡沫破灭了。

The subprime-fuelled housing boom turned to bust and prices plunged, with millions of families losing their homes.

受次级贷款推动的房地产泡沫开始破裂，房价暴跌，数百万家庭失去了他们的住房。

The stock market crashed, unemployment ballooned and the US banking system buckled to the point of implosion, with Lehman Brothers collapsing in 2008.

股市崩盘，失业率膨胀，美国银行体系几近崩溃，2008年雷曼兄弟公司破产。

BEANIE BABY BOOM

豆豆娃热潮

A lesser known tale of boom-and-bust is the Beanie Baby craze that occurred around the same time as the Internet bubble.

一个不那么为人所知的繁荣与破裂的故事是豆豆娃热潮，它与互联网泡沫几乎同时发生。

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