但在眼下这并非正确的着眼点，因为监管者让长期债券在危机中承受冲击，而让银行利润最高 — — 波动性也远远更高 — — 的短期债务和交易操作有更大的足额偿付把握。
But that is not the right place to look nowadays, because regulators are positioning long-term debt to take the hit in a meltdown, while making banks’ extremely profitable – and far more volatile – short-term debt and trading operations more certain to be paid in full.