agacer to annoy

barber to bore

embêter to bother

ennuyé(e) annoyed, bored, bothered

ennuyeux/ennuyeuse annoying, boring, tedious, irritation

en avoir assez to have had enough

en avoir marre to be fed up

la crainte fear 

inquiet/inquiète worried, anxious

s'inquiétude worry, anxiety

insupportable unbearable,intolerable

supporter to put up with

génial(e) fantastic

heureusement thank goodness

On a eu chaud! That was a narrow escape!

le soulagement relief

La raido

un animateur/ une animatrice raido/TV announcer

un auditeur/ une auditrice member of audience

un station station

un reportage

une rubrique heading,item

un bi-mensuel bimonthly publication

un hebdomadaire weekly publication

un journal newspaper

un magazine magazine

un mensuel monthly publication

un quotidien daily

une revue magazine

un lecteur/une lectirce reader

un numéro isssue

le tirage circilation

Dire qu'on est content...

Je suis content(e) / heureux/heureuse/enchanté(e) qu'elle soit ariveée.

Ça me plairait de revoir ce film.

Formidable! (Great!)

...ou mécontent (dissatisfied) 

Je suis agacé(e) (annoyed) / ennuyé(e) (bored, annoyed, bothered) / fâché(e) / en colère (anger)

Exprimer la déception(disappointment)

J'ai été très déçu(e) (disappointed) par le film.

Ça m'a beaucoup déçu.

Exprimer la crainte (fear) et l'inquiétude(worry, anxiety)

J'ai très peur de prendre l'avion./ J'peur qu'on ne survive pas au vol!

Je crains l'atitude.

Je crains qu'il n'y ait des trubulences et qu'il ne faille garder nos ceintures attachées pendant tout le vol.

Je suis inquiet/inquiète.

Ça m'inquiète un peu.

Exprimer le soulagement (relief)

L'avion a atterri sans le moindre problème, heureusement (thank goodness)!

On a eu de la chance!

Ouf! On a eu chaud!(That was a narrow escape!)

Exprimer la joie ou l'admiration

Je trouve ça magnifique!

C'est formidable/ merveilleux/génial (fantastic) /super!

Qu'est-ce que c'est beau/bien/bon!

Qu'est-ce que vous avez de la chance! (How lucky you are!)

Manifester de la réticence (hesitation) ou du dégoût (disgust)

Je n'ai aucune envie de faire cela.

Ça ne me dit rien.

Ça m'embête (bothers).

Je trouve ça dégoûtant/détestable.

C'est barbant (familiar-boring).

L'histoire du film est débile (stupid).

Protester/Exprimer l'irriation

C'est insupportable/inacceptable/révoltant!

Ça m'énerve! (It upsets me!)

J'en ai aseez ( have had enough) de ces histoires.

J'en ai marre (familiar-am fed up) de vivre comme ça.

Ah, zut alors!

Cela m'agace! (It's getting on my nerves!)

Dire des insultes

Utilisez ces expressions quand vous êtes très fâché(e). Elles sont trèss insultantes. N'en abusez pas.

(en s'adressant à une paersonne)    Espèce d'idiot/de crétin!   Sale type! 不翻譯了

(en parlant d'une personne) C'est un(e)   imbécile!/débie mental(e) (mental idiot)!/idiot(e)!

Je voudrais ganer un bon note pour le composition d'economie. 

C'est le date pour l'examen orale demain! Bon chance à moi!

In September 15 2008 a global finance institute Lehman Brothers Holding Inc who aged 158 years declared bankruptcy.¹ At the time of its bankruptcy, it was believed that Lehman Brothers became entangled in the subprime mortgage crisis, which led to its demise in 2008.²  In March 11 2010, a report unveiled that before the falling of Lehman Brothers, they made a large number of unscrupulous “accounting method” called Repo 105 to make false appearance on their balance sheet. They tried to make an illusion of a well net leverage ratio and tried to delay the date of their collapse. We cannot simply say the method is a fraud, but actually they are making use of accounting loopholes. Unfortunately, the updates of the accounting standards always fall behind the pace of the financial “innovations”.

The fundamental reason that Lehman Brothers utilize Repo 105 was because they tried to cover the existing failure due to the subprime mortgage lending crisis prior to its dismiss. Lehman Brothers had always been known for bond products. There was a subprime lender operates as a subsidiary of Lehman Brother called BNC Mortgage Inc.

When people who do not have good credit history want to buy a house, the banks often refuse to make loans to them. Then they go to other mortgage institutions, which are willing to lend to the poor credit people, and what they lend is called “Subprime Mortgage”. The risk of the subprime mortgage is far exceeded what people thought. They only knew that the mortgage interest rate started at a low level, but after a few years the interest rate will raise.

There was no intention for lender to remind the borrower but they have intention to make the illusion that the interest rate will keep low, and people are able to buy houses. There was no incentive for the financial institution to scrutinize the creditworthiness of their borrowers as well, because they will pass the risk to other investors intermediately by selling them liabilities of the borrower.

However, once interest rates began to rise and housing prices started to fall in 2006-2007 the problems started to reveal. People are unable to pay their interests, the lenders needed to buy the worthless products back from the borrowers. Then the mortgage institutions were suddenly in crisis because of insufficient funds.

In August 2007, BNC Mortgage announced its closure due to the event above.³ The subprime mortgage crisis also let the parent company Lehman Brother face unprecedented losses, they hold a large amount of subprime mortgage securities or bonds at that moment, and nobody wanted to buy those products any more! The value of those products continued to shrink, and the loss of Lehman Brother continued to expand. Eventually, it collapsed. On September 15, 2008, Lehman Brothers declared bankruptcy with $613 billion of debt, and it was the biggest bankruptcy in US history.⁴

In March 11 2010, an insight report “Lehman Brothers Holdings Inc. Chapter 11 Proceedings Examiner’s Report” by Jenner & Block claim that the demise of Lehman Brother was not as sudden at it seemed.⁵ According to the report, bad assets were loaded to other firms at the end of the quarter in exchange for short-term financing, it temporary gave the illusion of a much healthier balance sheet⁵ using Repo105.

Repo(repurchase)105 is actually a commonly used short-term financing instrument. The purpose of this operation is to hide debt in periodic reports, reducing the company’s net leverage ratio.

In general, company transfer assets (securities, bonds etc.) to other institution, and obtain fund from the institution. Then at a later time, the company buys the asset back from the institution. What happens in the balance sheet? It should be loan; there is an increase on the assets and the liabilities. However, according to the accounting standard, if the value of the assets excess 102% of the cash value, this kind of activity should fall into the category of “sell”⁷ Thus, the Lehman Brothers used the Repo 105 to get rid of its problem assets, at the same time they could use the obtained fund to pay some of their debts. What really happened in the balance sheet? There were reductions in both asset and liabilities. The asset that Lehman Brothers “sold” was not really sold but as short-term “exchange” for fund. Nevertheless the transaction cost on the Repo105 is higher than a regular repurchase, if the Lehman Brothers sold their assets cheaply; it was more likely to speed up its crisis. This is the reason why Lehman Brothers always performed the Repo 105 a few days before their release of the periodic reports.

The reason why Lehman Brothers were able to make use of the loophole of the accounting standard was because the standard will always fall behind the pace of financial business innovation. The same reason was also related to the failing of BNC Mortgage and a lot of other financial institution during the subprime mortgage crisis. In the past, financial crisis were mostly due to the business failure but this time it was because of the “innovations” which the financial institution created and drag them to failure. Lehman Brothers has become the past, but once again sounded the alarm: the regulations are still inadequate.

後來我開始看起來，把筆記本開到最大聲躲在自己安靜的小臥室。其實外面陽光明媚，都快接近10度了。

有這樣的陽光的日子，應該是我爸媽會出去爬山，我穿連衣裙出去約會的日子。可是我竟在床上看無聊的綜藝節目。

這樣不好！

2012的那一天我跟爸爸都在家裡，媽媽居然還跑去上班，體檢開會。

跟爸爸看著電視的時候，開始有震動。家樓下店鋪門前已經有凹陷了，bus也走不過了。我爸叫我站在床墊上抱著樹etc... 我們擔心媽媽，於是給她打電話，她說正在回家路上，那邊沒有出現情況。

震動停了下來。我走回自己房間，看著窗外形狀怪異的雲，很想拿單反拍下來，但想想也是徒勞。還是希望這像某個youtube視屏裡說的那樣，2012不是人類的大災難，只是基因變異而已。我希望外星人能出現...這時手機響了，+72......奇怪的號碼，結果是素不相識的初中隔壁班的男同學，只是聲音變成了女聲。他說今天約的同學都不願意出去，只好問別班的同學願不願意跟他玩。我說算了吧，還順便問了他家那邊有什麼地形變化沒有，他說沒有。

這時外面電閃雷鳴，閃電是彩色的，我記得有紅色黃色。直直地打到地面上。我呆呆地看著窗外，可能這就是時候了，我想。我爸沖過來，我從房間出來，我叫他把房門都關起來，我們躲在走廊上，這樣也看不見外面發生的事了。

就這樣我爸爸擋在我前面，我抱著他，兩人靠在走廊的角落聽外面世界的崩塌。我緊閉著眼，兩個人什麼都沒說。突然感覺旁邊的房間沒了，閉著的眼睛都能感覺到光亮。再一聲轟隆，我感覺我們在火裡墜落。我的頭發和皮膚在燃燒，卻沒有放開抱緊爸爸的雙手。我怕不說就再也沒機會了，我說我愛你爸爸，我也愛媽媽，我愛...然後就說不出了...希望這過程能快點結束，感覺肌肉慢慢消失了，骨頭也快化為灰燼了...原來是這樣的...

後開一切都平靜了，我還是抱著爸爸的姿勢，閉著的眼又感覺到光亮。我想看又有點擔心，是到天堂了嗎？

我慢慢睜開眼，是我自己的房間。當然，手還是抱著的姿勢，握得緊緊的。

做生意真的是最後到transaction is done都不算真正做到。今早10點我還在迷糊的睡眠中，聽見aleck關家門的聲音猜到他是下樓見買家了。還是不想起床沖涼出門陪他，只是在text msg 他‘good luck’。希望但不敢抱太大的期望，迷迷糊糊地躺在床上聽樓下有關車門的聲音，然後車子開走了。喔，test drive。應該有戲，果然沒過多久aleck叫我下樓幫他清理車上的雜物，買家去銀行開bank draft了。最後是他們只講了$500的價，aleck爽快的答應了。比我們預計售價還要高許多。農村人千裡迢迢開長途來城裡買了一輛二手車，聽說是帥哥美女夫妻，買到車非常興奮。同城的賣家卻沒那麼厚道，一開口都直接砍掉3000...有點太誇張了吧！交易很順利，但若是我陪著aleck的話會更謹慎。aleck居然收了bank draft就直接在bill of sale上簽名了，然後自己換車牌，讓買家一個人去注冊辦公室交表格。what if, what if那張bank draft是假的？車子就會legally轉到別人名下而自己一分都沒有！aleck回家後我看了好幾遍，沒有什麼防偽標志，還是有點兒擔心。喔，不過我知道了TD的全稱叫toronto dominion。中午去了銀行，成功的存入了，我們才松了一口氣。

半晚去看FJ，跟店裡的manager都握手說make a deal之後又很糾結的negotiate了一個小時還是沒辦成。剛開始sales women開心的不得了，自己都說不敢相信就著樣deal了，然後我跟她很開心的聊起私事。Jerry來了，見到aleck談了幾句，他便改變心意了。沒辦法，想要的車要從別的車行調過來需要錢，而別的車行同樣的加錢還有贈品送。就是這樣不公平，銷售阿姨很無助的眼淚都快掉下來了。但我們是顧客，雖然想在這間店裡買因為所有人都很nice，但是1000上下還是挺大的數字。真的只差一步了，准備到財務部放定金了jerry來提醒了我們。可笑的事，前一秒阿姨還在說哦，jerry來嗎，他是不是一直是the odd man out?然後jerry來了把她的生意也帶走了...

也不只是生意吧，任何事都是最後一秒才成定局。剛才Pie打過來說還是來幫我收拾東西了。其實我也常這樣，而且要學會理解對方，不能給自己抱100%的期望。