unspoken, tacit , a wave of downgrades, rule-breaking

"Because of the current economic conditions in the U.S. we’re seeing a lot of people who need to actually trade out or trade down from some of their luxury items and facilitate that transaction somewhere discreetly and privately so that they don’t have to deal with the shame and or embarrassment of downgrade." Quintin Thompson, co-founder and executive partner of BillionaireXchange said.
「因為美國的當前經濟情況，我們看到一大堆人需要賣出或折價交換他們的一些奢侈品，而且是秘密、私下交易，讓他們不用面對身價貶值的羞恥或尷尬。」富豪交易共同創辦人、執行合夥人湯普森說。

 At White House Homecoming, Elder Bush's 'Points of Light' Shine On

By MARK LANDLER

In a ceremony tinged with nostalgia and an unspoken sense of farewell, former President George Bush joined President Obama at the White House on Monday to present an award for Mr. Bush's volunteer initiative.

 

What's Good about Quiet Rule-Breaking

http://hbswk.hbs.edu/item/6078.htmlIf your company quietly allows employees to break some rules with the tacit approval of management, that's a moral gray zone. And your company is not alone. When rules are broken but privileges are not abused, such unspoken pacts between workers and management can allow both to achieve their respective goals of expressing professional identity and sustaining efforts in positive ways, says HBS professor Michel Anteby. Q&A.




tacit
adjective
understood without being expressed directly:
tacit agreement/approval/support

S&P and Moody's announced a wave of downgrades on bonds backed by subprime mortgages, a tacit admission that they had misjudged the risk of the securities. 一系列信用降級.....默認他們對該等金融產品的風險失算

Tacit knowing/knowledge 指「默會的知識」--譬如說你會游泳，不過訣竅不容易用紙筆或口說出來。
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wave (LARGE NUMBER)
noun [C]
1 an unusually large number of events of a similar, often bad, type, happening within the same period:
a crime wave
In the 1970s, the country came close to collapse as it was swept by a wave of strikes.

2 a new/second, etc. wave of sth an activity which is happening again or is being repeated after a pause:
A new wave of job losses is expected this year.



 unspoken
 adjective

not expressed in speech; tacit:an unspoken assumption