The MBS markets are huge and relatively liquid. But financiers took these securities and other types of debt and repackaged them again in structures known as collateralised debt obligations (CDOs).

• MBS市场规模庞大，流动性相对较强。但是，金融家获得这些证券和其它类型的债券，以一种所谓的“债务抵押债券(CDO)”结构再次对其进行打包。