Sixth, complexity got the better of us. The industry let the growth in new instruments outstrip the operational capacity to manage them.
2
get the better of somebody
a) if your feelings or wishes get the better of you, they make you behave in a way you would not normally behave
My curiosity finally got the better of me and I opened the letter. I think her nerves got the better of her.
b) to defeat someone or deal successfully with a problem
Sixth, complexity got the better of us. The industry let the growth in new instruments outstrip the operational capacity to manage them.
1
to do something better than someone else or be more successful
We outstripped all our competitors in sales last year.
2
to be greater in quantity than something else
Demand for new aircraft production is outstripping supply.
3
to run or move faster than someone or something else
Speeding at 90 mph, Denny outstripped police cars for an hour.
Last, and perhaps most important, financial institutions did not account for asset values accurately enough. I have heard some argue that fair value accounting � which assigns current values to financial assets and liabilities � is one of the main factors exacerbating the credit crisis. I see it differently. If more institutions had properly valued their positions and commitments at the outset, they would have been in a much better position to reduce their exposures
if there is a question about the value of a position or a disagreement about a risk limit, the risk manager's view should always prevail.
2
if a person, idea, or principle prevails in a fight, argument etc, they are successful in the end
Justice will prevail. common sense prevails/reason prevails (=a sensible decision is made) He considered lying, but then common sense prevailed.
prevail over/against
Your inner strength will enable you to prevail over life's obstacles.
prevail on/upon somebody phrasal verb
to persuade someone
prevail on/upon somebody to do something
She prevailed upon her father to say nothing.
[singular] formal
the start of an organization or institution
a CD collection covering the band from its inception in 1994
This was true at the inception and over the period of the investment, during which time they did not heed other indicators of financial deterioration.
This over-dependence on credit ratings coincided with the dilution of the coveted triple A rating. In January 2008, there were 12 triple A-rated companies in the world. At the same time, there were 64,000 structured finance instruments, such as collateralised debt obligations, rated triple A.
It now transpires that he kept all the money for himself.
Exactly what transpired remains unknown.
transpire
/ tranˈspaɪə(r); tranˋspaɪr/ v
[I] (used with it and a that-clause; usu not in the continuous tenses 與it和that從句結合使用; 通常不用於進行時態) (of an event, a secret, etc) become known （指事情﹑ 秘密等）公開, 為人所知: This, it later transpired, was untrue. 此事後來得知不屬實. * It transpired that the gang had had a contact inside the bank. 據報這伙匪徒在銀行裡有內應.
[I] (infml 口) happen 發生: You're meeting him tomorrow? Let me know what transpires. 你是明天見他嗎? 把見面後的情況告訴我.
[I, Tn] (of plants) give off (watery vapour) from the surface of leaves, etc （指植物）（從葉面等）散發（水汽）.
> transpiration / ˏtranspɪˈreɪʃn; ˏtranspəˋreʃən/ n [U] process of transpiring (transpire 3) （葉面等水汽的）散發, 蒸發.
Much of the past year has been deeply humbling for our industry. People are understandably angry and our industry has to account for its role in what has transpired.
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