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Banks race to profit from US bailout比賽銀行的利潤來自美國援助 Tuesday, September 23rd, 2008 星期二, 2008年9月23號 By通過 Barry Grey巴里灰色 | The announcement of a virtually open-ended government bailout of Wall Street has set off a frenzied competition among the biggest banks and financial firms to grab the lion’s share of the super profits to be reaped from the program. |宣布了一項幾乎不限成員名額的政府紓困的華爾街已成立了瘋狂的競爭,最大的銀行和金融公司獲得的大部分份額超利潤將獲得從計劃。 Banks, brokerage houses, insurance firms, mortgage lenders, private equity companies and asset managers are furiously lobbying the Bush administration and Congress to make sure that the legislation authorizing the bailout gives them the biggest possible share in the spoils.銀行,經紀公司,保險公司,抵押貸款,私人股本公司和資產管理公司正在激烈的遊說布什政府和國會,以確保立法授權救助使他們盡可能的最大份額的戰利品。 Behind the public speech-making and posturing by administration officials, presidential candidates and congressmen, a sordid campaign of influence-peddling and vote-buying is under way, which will determine the details of the bailout law that is expected to be passed either this week or next.背後的公開講話的決策和姿態的政府官員,總統候選人和國會議員,一個骯髒的運動的影響力,推銷和賄選正在進行,這將確定的細節救助法,預計將可以通過這個星期或明年。 Tens of billions of dollars in corporate profits and billions more in personal windfalls for senior executives and big investors are at stake.數百億美元的企業獲利,並在數十億以上的個人意外高層管理人員和大投資者的利害關係。 The plan drawn up by Treasury Secretary Henry Paulson not only allows the biggest financial firms to rid themselves of virtually worthless assets that are driving down their stock and slashing their profits, it provides vast opportunities for the winners in the money race to realize huge gains from the management of the program and the ultimate resale of the assets by the government.該計劃擬定了財政部長保爾森不僅使最大的金融公司擺脫幾乎毫無價值的資產,壓低其股票和削減他們的利潤,它提供大量的機會,獲獎者在獎金的比賽,實現巨大的收益管理的計劃,並最終轉售的資產由政府。 The entire program is so rife with “conflicts of interest” that the term does not begin to capture the level of corruption and criminality it entails.整個計劃是這樣充滿了“利益衝突”這個詞沒有開始捕捉水平的腐敗和犯罪行為造成的。 The New York Times on Monday carried an unusually frank article, which began, “Even as policy makers worked on details of a $700 bailout of the financial industry, Wall Street began looking for ways to profit from it. 紐約時報週一進行以罕見的坦率的文章開始, “即使決策者工作的細節, 700元紓困的金融業,華爾街開始尋找辦法從中獲利。 “Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages. “金融企業遊說的方式都陷入困境的投資範圍,而不僅僅是那些與抵押貸款。 “At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees.他說: “與此同時,投資公司爭來監督所有的資產,財政部計劃起飛的書籍金融機構的作用,他們可以賺取數億美元的一年學費。 “Nobody wants to be left out of Treasury’s proposal to buy up bad assets of financial institutions.” “沒有人希望被排除在財政部的建議,購買不良資產的金融機構。 ” The article quoted Bert Ely, a financial services industry consultant in Alexandria, Virginia, as saying, “Of course there will be fierce lobbying.文章引述郝福伊利,一個金融服務行業的顧問亞歷山大,弗吉尼亞州,說: “當然會有激烈的遊說。 The real question is, Who wouldn’t want to be included in the package?” The plan was so open-ended, Ely said, it could be interpreted to mean that the US government was open to buying “any asset, anywhere in the world.”真正的問題是,誰不希望被列入包? “這項計劃是如此不限名額,伊利說,它可能被解釋為意味著,美國政府願意購買”任何資產,隨地世界。 “ The Wall Street Journal on Monday quoted Scott Talbott, senior vice president of government affairs at the Financial Services Roundtable, which consists of chief executives of the nation’s most powerful banks, brokerages and insurers, who said of the industry lobbying campaign, “This is the Super Bowl and New Year’s Eve of legislation.” 華爾街日報週一引述斯科特塔爾博特,高級副總裁兼政府事務的金融服務圓桌會議,其中包括首席執行官全國最強大的銀行,券商和保險公司,誰說,該行業遊說: “這是超級杯和除夕的立法。 “ Key issues in play include: Which institutions will be covered by the plan; what kinds of assets will the government buy; how much will it pay; how will the assets be valued that are palmed off to the government; which financial firms will get the franchise to manage the program and thereby cash in on fees and the eventual resale of the assets?關鍵的問題在發揮包括:哪些機構將所涉及的計劃;什麼樣的資產將政府購買;多少會支付;如何將這些資產的價值是palmed了政府;其中金融企業將得到特許經營管理程序,從而現金的費用,並最終轉售的資產? The Times article noted that within one day of the presentation on Saturday of the initial Treasury Department proposal, major changes had been made at the behest of big banks and Wall Street lobbying organizations. 紐約時報的文章指出,在為期一天的介紹星期六的初步財政部提議,重大變化了的遺志,大銀行和華爾街的遊說組織。 The changes dramatically widened the scope of the bailout.這些變化極大地擴大了範圍的救助。 Foreign-based financial firms that do business in the US, initially excluded, were given a place at the trough; the range of institutions qualifying for the program was broadened to include insurance companies, mortgage lenders and other non-banking firms; and the type of assets to be off-loaded to the government was widened from “mortgage-related assets” to include “any other financial instrument.”外交部為基礎的金融公司,做生意的美國,最初被排斥,得到了在低谷;的各種機構資格的計劃是擴大到包括保險公司,抵押貸款和其他非銀行企業;和類型資產要卸貨政府已經擴大,由“抵押貸款相關資產” ,包括“任何其他金融工具。 ” As the Times article put it: “There were signs of the industry’s fingerprints on drafts of the legislation released over the weekend….隨著時代的文章說: “有跡象表明,該行業的指紋就草案的立法釋放上週末... 。 Securities firms were initially excluded but were included in a version released Sunday afternoon.”證券公司最初被排除在外,但包括在版本的星期天下午。 “ Among the changes being called for by various industry lobby groups are:在正在發生變化所要求的各種行業的遊說團體是: * Pushing back the date of purchase of assets which the government will accept. *推回來的日期購買資產,政府會接受的。 The Treasury proposal released Saturday set the cut-off date at September 17 of this year.財政部今天發布提議設立的截止日期9月17日在今年。 Some bankers are demanding that the date be changed to December of 2007, and, according to the Financial Times , some industry groups are lobbying for a clause that would “allow banks selling assets to the fund to account for any losses realized over a number of years.”一些銀行家的要求的日期改為2007年12月,並根據金融時報 ,一些行業團體正在遊說的條款,將“允許銀行出售資產的基金帳戶的任何損失,實現了很多年。 “ * Small banks are urging the government to buy loans they made to homebuilders and commercial developers. *小銀行正在敦促政府貸款,他們購買了房屋和商業開發。 * Some bankers are pushing for government support for municipal securities. *一些銀行家正在推動政府支持的市政證券。 * The banking industry, according to the Wall Street Journal , “has gone directly to the SEC (Securities and Exchange Commission) demanding a letter changing US accounting rules that require banks to state the value of their assets at the market price.” They instead want their rotten assets to be valued at their price at the time of purchase—a change that would cost the government additional hundreds of billions in taxpayer money. *銀行業,根據華爾街日報 “ ,已經直接提交給SEC (證券交易委員會)的一封信,要求改變美國的會計規則,要求國有銀行的價值,其資產的市場價格。 ”他們不是希望他們的爛資產價值的價格在購買時,這種改變將花費更多的政府幾十億的納稅人的錢。 To put it bluntly, the American financial industry is preparing to deliver to the US Treasury every bad debt it accumulated over the years of reckless speculation and financial manipulation that generated super-profits and multimillion-dollar compensation packages for its top executives.說穿了,美國金融業正在準備提供給美國財政部每壞帳它多年積累的魯莽的金融投機和操縱產生的超利潤和價值數百萬美元的補償方案,其高層管理人員。 And it is insuring that the American people pay super-inflated prices for their financial junk, so that they can launch a new and even bigger orgy of speculation.這是確保美國人民付出超價格膨脹的財政垃圾,使他們能夠推出一個新的,更大的放縱投機。 The announcement of the bailout plan has set off a particularly ferocious competition for inclusion among the financial companies that are to be hired by the government to manage the operation.宣布援助計劃,已成立了特別兇猛的競爭,列入財務公司要聘請由政府管理運作。 This plum job could, according to the Times , earn the winners $1 billion a year in fees.這梅花的工作可以根據時報,優勝者獲得10億美元,一年的學費。 Among the firms in the race is the asset management company BlackRock.在企業中的比賽是資產管理公司貝萊德。 Morgan Stanley, the Wall Street investment bank, is also running hard for the prize.摩根士丹利,華爾街投資銀行,也是很難執行的獎金。 Another firm reportedly in the running is the private equity company Blackstone Group.據報導,另一家公司的運行是私人股本公司黑石集團。 It has expressed interest in buying up the assets when they are put back onto the market by the government.它已表示有興趣購買的資產時,放回進入市場的政府。 Blackstone made a fortune by betting against these very same assets early last year.黑石集團大發橫財的博彩對這些同樣的資產去年年初。 Bank of New York Mellon is also campaigning for a spot, as is JPMorgan Chase, the giant commercial bank that made a windfall in the rescue of Bear Stearns last March, in a takeover deal that was subsidized by the Federal Reserve Board to the tune of $29 billion.紐約銀行梅隆也是競選活動的現場,這是摩根大通,大商業銀行發了橫財救援貝爾斯登去年3月,在收購是補貼,美國聯邦儲備委員會的擺佈290億美元。 All of these firms played major roles in creating the financial disaster from which they now seek to profit.所有這些公司中起著重要作用創造了金融災難,他們現在謀求利潤。 They all are deeply involved in speculation on the assets that are to be bought by the government, and some, such as Morgan Stanley and JPMorgan Chase, have billions of such assets on their books.他們都深深捲入了投機的資產,要購買由政府和一些,如摩根士丹利和摩根大通,有幾十億的資產,他們的書籍。 Another figure who would like to be a Treasury Department asset manager is William Gross, chief investment officer at the bond management firm Pimco.另一個數字誰願財政部資產管理公司是威廉毛,首席投資官債券管理公司Pimco公司。 The Times article noted, in passing, that Gross “is among the financial executives Mr. Paulson… has regularly consulted with since the financial crisis began.” 紐約時報的文章指出,在傳球,這毛“是財務主管鮑爾森...定期磋商,因為金融危機開始。 ” Gross made a cool $1.7 billion earlier this month in the government takeover of mortgage finance giants Fannie Mae and Freddie Mac, after having bet on the firms’ demise and publicly agitated for a government buyout of the companies.毛冷了17億美元,本月初在政府收購抵押貸款巨頭Fannie Mae和Freddie Mac之後,押注在公司的消亡,並公開鼓動,政府收購的公司。 In recent weeks, he has been campaigning for precisely the type of government plan to buy the banks’ bad debt that is now being implemented.在最近幾個星期裡,他一直爭取正是政府的類型計劃收購銀行的壞帳,目前正在實施中。 Have Your Say: Banks race to profit from US bailout 你說:銀行競相利潤來自美國援助 Please read our請仔細閱讀我們的 posting guidelines before posting張貼在發布前的指導方針 . 。 Alternatively或者 you can discuss this report here你可以討論這份報告在這裡 . 。 Related News 相關新聞
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