但即使全球金融危机确实揭露了大范围的欺诈行为，人们却发现危机的深层原因并不是欺诈，而是虽然有发行商不断发行次级抵押债券并吸引金融机构不断购��，但市场却在满足了前者的私欲之后抛弃了后者。
But, while the global financial crisis did reveal fraud on a massive scale, the underlying cause of the crisis was not fraud but the failure of the market to knit together the self-interest of those who sold and resold sub-prime mortgages with the interests of the investors in financial institutions that bought them.