You might have expected more from people whose forebears invented the phrase caveat emptor. On April 28th it emerged just how unwary city elders of Milan had been when details emerged of staggering sums they have allegedly lost on a derivatives bet.rnThe disclosures came amid a swoop by the country's financial police on some of the world's biggest banks, seizing €476111 ($634m) of their assets. The four banks, ubs, JPMorgan Chase, Deutsche Bank and Hypo Real Estate's depfa unit, helped the city take a huge bet on interest rates in 2005 that had lost Milan, by its own estimate, €298m last June.
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机译：您可能对前人发明了“警告放弃者”一词的人们寄予更多期望。 4月28日，当米兰市长老据称因衍生品交易而蒙受巨额损失的细节浮出水面时，情况变得多么不知所措。他们的资产为476111美元（6.34亿美元）。瑞银集团，摩根大通，德意志银行和Hypo Real Estate的depfa部门这四家银行帮助该市在2005年大举押注利率。据估计，该利率使米兰在去年6月损失了2.98亿欧元。
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