The US banking system has always been a little bit like a leaky bucket. In normal times, when debtors behave as expected, the trickle out the bottom is small and steady, and the economy keeps topping it up. In the last year, as the holes became alarming large, the government turned the tap full open and kept it running. However, the flow of losses caused by the housing market shows no sign of slowing down.
美國銀行體系始終有點像一隻漏水的桶。正常時期，當債務人的行爲符合預期時，從桶底流出的是穩定的涓涓細流，經濟總是能把水加滿。去年，當桶底的漏洞大到驚人的水準時，美國政府把龍頭開到最大，而且一直沒有關。然而，住宅市場造成的虧損之流卻絲毫沒有放緩的跡象。
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