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The “Dirty Little Secret” Of the US Bank Bailout “骯髒的小秘密”的美國銀行紓困 Thursday, October 30th, 2008 星期四, 08年一十月30日 WSWS | In an unusually frank article published in Saturday’s New York Times, the newspaper’s economic columnist, Joe Nocera, reveals what he calls “the dirty little secret of the banking industry”–namely, that “it has no intention of using the [government bailout] money to make new loans.” |在以罕見的坦率的文章發表在週六的紐約時報,報紙的經濟專欄作家,喬諾西拉,顯示他所謂的“骯髒小秘密銀行業” ,即“它無意使用[政府救助]錢作出新的貸款。 “ As Nocera explains, the plan announced October 13 by Treasury Secretary Henry Paulson to hand over $250 billion in taxpayer money to the biggest banks, in exchange for non-voting stock, was never really intended to get them to resume lending to businesses and consumers–the ostensible purpose of the bailout.正如諾西拉解釋說,計劃10月13日宣布,由財政部長保爾森交出2500億美元的納稅人的錢,以最大的銀行,以換取非投票股票,從來沒有真正打算讓他們恢復貸款給企業和消費者,的表面目的是紓困。 Its essential aim was to engineer a rapid consolidation of the American banking system by subsidizing a wave of takeovers of smaller financial firms by the most powerful banks.其基本目的是工程師迅速鞏固了美國銀行系統的補貼一波併購規模較小的金融公司的最強大的銀行。 Nocera cites an employee-only conference call held October 17 by a top executive of JPMorgan Chase, the beneficiary of $25 billion in public funds.諾西拉引用了一個員工只有電話會議10月17日舉行的高層摩根大通,受益250億美元的公共資金。 Nocera explains that he obtained the call-in number and was able to listen to a recording of the proceedings, unbeknownst to the executive, whom he declines to name.諾西拉解釋說,他獲得了呼叫次數,並能夠收聽錄音程序,不知情的執行,他拒絕的名稱。 Asked by one of the participants whether the $25 billion in federal funding will “change our strategic lending policy,” the executive replies: “What we do think, it will help us to be a little bit more active on the acquisition side or opportunistic side for some banks who are still struggling.”問其中一名參與者是否250億美元的聯邦資金將“改變我們的戰略的貸款政策, ”行政答复: “我們確實認為,這將有助於我們有點更積極的收購方或機會主義方一些銀行誰仍在苦苦掙扎。 “ Referring to JPMorgan’s recent government-backed acquisition of two large competitors, the executive continues: “And I would not assume that we are done on the acquisition side just because of the Washington Mutual and Bear Stearns mergers.在談到摩根大通最近的政府支持的收購兩個大的競爭對手,行政繼續說: “我並不認為我們正在做的收購方是因為華盛頓互惠和貝爾斯登合併。 I think there are going to be some great opportunities for us to grow in this environment, and I think we have an opportunity to use that $25 billion in that way, and obviously depending on whether recession turns into depression or what happens in the future, you know, we have that as a backstop.”我認為,將有一些巨大的機遇,我們生長在這種環境下,我認為我們有機會利用這一250億美元,以這種方式,顯然取決於是否衰退變成抑鬱症或發生的事情在未來,你們都知道,我們作為一個支持。 “ As Nocera notes: “Read that answer as many times as you want–you are not going to find a single word in there about making loans to help the American economy.”正如諾西拉指出: “閱讀答案多次你想,你不會找到一個字在那裡的貸款,以幫助美國經濟。 ” Later in the conference call the same executive states, “We would think that loan volume will continue to go down as we continue to tighten credit to fully reflect the high cost of pricing on the loan side.”後來在電話會議上同一行政指出, “我們將認為,貸款量將繼續下去,我們將繼續收緊信貸,以充分反映成本高定價的貸款方面。 ” “It is starting to appear,” the Times columnist writes, “as if one of the Treasury’s key rationales for the recapitalization program–namely, that it will cause banks to start lending again–is a fig leaf…. “這是開始出現,紐約時報”專欄作家寫道, “因為如果一個財政部的主要理由為資本的程序,即會導致銀行貸款再次啟動,是一塊遮羞布... 。 In fact, Treasury wants banks to acquire each other and is using its power to inject capital to force a new and wrenching round of bank consolidation.”事實上,財政部希望銀行收購對方,並利用其權力,注入資本,迫使一個新的和痛苦的一輪銀行合併。 “ Early this month, he explains, “in a nearly unnoticed move,” Paulson, the former CEO of Goldman Sachs, put in place a new tax break worth billions of dollars that is designed to encourage bank mergers.本月初,他解釋說, “在一個幾乎被忽視行動, ”保爾森,前首席執行官高盛,設立了一個新的減稅價值數十億美元,目的是鼓勵銀行合併。 It allows the acquiring bank to immediately deduct any losses on the books of the acquired bank.它允許收購銀行立即扣除任何損失的書籍收購的銀行。 Paulson and other Treasury officials have made public statements calling on the banks that receive public funds to use them to increase their lending activities.保爾森和其他美國財政部官員已公開聲明,呼籲銀行,接受公共資金,利用它們來增加其貸款活動。 That, however, is for public consumption.然而,這是供公眾消費。 The bailout program imposes no lending requirements on the banks in return for government cash.救助計劃的實施要求沒有貸款的銀行,以換取政府的現金。 Already, the credit crisis has been used to engineer the takeover of Bear Stearns and Washington Mutual by JPMorgan, Merrill Lynch by Bank of America, Wachovia by Wells Fargo and, last Friday, National City by PNC.目前,信用危機已被用來工程師收購貝爾斯登和Washington Mutual的JP摩根,美林證券的美國銀行,瓦喬維亞由富國和,上週五,全國城市的民警。 What the Wall Street Journal on Saturday called the “strong-arm sale” of National City provides a taste of what is to come.什麼華爾街日報週六所謂的“強有力的手臂出售”全國城市提供了一種味道是什麼來。 The Treasury Department sealed the fate of the Cleveland-based bank by deciding not to include it among the regional banks that will receive government handouts.財政部密封的命運,克利夫蘭的一家銀行,決定不將其列入各區域銀行,將得到政府的施捨。 It then gave Pittsburgh-based PNC $7.7 billion from the bailout fund to help defray the costs of a takeover of National City.然後給總部設在匹茲堡的民警77億美元的緊急援助基金,以幫助支付費用,收購國家城市。 PNC will also benefit greatly from the tax write-off on mergers enacted by Treasury.民警也將大大受益於稅務註銷的兼併財政部頒布的。 All of the claims that were made to justify the bank bailout have been exposed as lies.所有聲稱,作了辯解紓困銀行已揭露謊言。 President Bush, Federal Reserve Chairman Ben Bernanke and Paulson were joined by the Democratic congressional leadership and Barack Obama in warning that the bailout had to be passed, and passed immediately, despite massive popular opposition.美國總統布什,聯邦儲備委員會主席伯南克和保爾森也加入了民主黨國會領導層和奧巴馬中警告說,援助必須通過,並立即通過,儘管大規模流行的反對。 Those who opposed the plan were denounced for jeopardizing the well being of the American people.這些誰反對該計劃的譴責危害的福祉美國人民。 In a nationally televised speech delivered September 24, in advance of the congressional vote on the bailout plan, Bush said it would “help American consumers and businessmen get credit to meet their daily needs and create jobs.” If the bailout was not passed, he warned, “More banks could fail, including some in your community.在全國電視講話9月24日,提前在國會表決的救助計劃,布什說,它將“幫助美國消費者和商界人士獲得信貸,以滿足他們的日常需要和創造就業機會。 ”如果救助沒有通過,他警告說, “更多銀行可能會失敗,包括一些在您的社區。 The stock market would drop even more, which would reduce the value of your retirement account….股市將下降更有什者,這將減少的價值,你的退休帳戶... 。 More businesses would close their doors, and millions of Americans could lose their jobs … ultimately, our country could experience a long and painful recession.”越來越多的企業將關門,數以百萬計的美國人可能會失去工作...最終,我們的國家可能會遇到一個漫長而痛苦的衰退。 “ One month later, the bailout has been enacted, and all of the dire developments–banks and businesses disappearing, the stock market plunging, unemployment skyrocketing–which the American people were told it would prevent are unfolding with accelerating speed.一個月後,救助已經頒布,所有可怕的事態發展銀行和企業消失,股市下跌,失業率上升,這對美國人民被告知這是開展預防與加速。 While Obama talks about the need for all Americans to “come together” in a spirit of “shared sacrifice”–meaning drastic cuts in Medicare, Medicaid, Social Security and other social programs–and the cost of the bailout is cited to justify fiscal austerity, the bankers proceed to ruthlessly prosecute their class interests.雖然奧巴馬談論需要所有美國人“走到一起”的精神“共同犧牲” ,這意味著大幅度削減醫療保險,醫療,社會保障和其他社會項目和費用的救助是列舉的理由財政緊縮,銀行家進行無情起訴其階級利益。 As the World Socialist Web Site warned when it was first proposed in mid-September, the “economic rescue” plan has been revealed to be a scheme to plunder society for the benefit of the financial aristocracy.作為世界社會主義網站發出警告時,首次提出在9月中旬, “經濟救助”計劃已經顯示是一個計劃,以掠奪社會,造福於金融貴族。 The American ruling elite, utilizing its domination of the state and the two-party political system, is exploiting a crisis of its own making to carry through an economic agenda, long in preparation, that could not be imposed under normal conditions.美國統治精英,利用其統治的國家和兩個黨政治制度,是利用了一個危機其本身的決策執行通過一個經濟議程的,長期的準備,不能強加在正常情況下。 The result will be greater economic hardship for ordinary Americans.其結果將是更大的經濟困難的普通美國人。 The big banks will have even greater market power to set interest rates and control access to credit for workers, students and small businesses.大銀行將有更大的市場力量在設定利率和控制獲得信貸的工人,學生和小型企業。 While no serious measures are being proposed, either by the Bush administration, the Republican presidential candidate or his Democratic opponent, to prevent a social catastrophe from overtaking working people, the government is organizing a restructuring of the financial system that will enable a handful of mega-banks to increase their power over society.雖然沒有嚴肅的措施正在擬議中,無論是布什政府,共和黨總統候選人或他的民主黨對手,以防止社會災難從超車的勞動人民,政府正在組織調整金融制度,使少數大型銀行增加其權力的社會。 Have Your Say: The “Dirty Little Secret” Of the US Bank Bailout 你說: “骯髒的小秘密”的美國銀行紓困 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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