A couple of years ago, it occurred to me that the 21st century financial system had come to resemble a huge ball of candy floss (or cotton candy, as Americans might say). For bankers had become so adept at slicing and dicing debt instruments, and then re-using these in numerous deals, they had in effect spun a great web of leverage and trading activity – in much the same way that sugar is spun in a bowl to create candy floss.
幾年前，我突然意識到，21世紀的金融體系越來越像是一個巨大的棉花糖。銀行家在切割債務工具、隨后在眾多交易中對其重新加以使用上極其熟捻，事實上編織成了一張杠桿和交易行為的大網——和不停轉動機器制作棉花糖的方法頗為相似。
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