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美国新金融法案生效华尔街转向“合法生意”,找新财路

kira86 于2010-07-23发布 l 已有人浏览
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Financial Reform Law Aims to Change Some of the Ways of Wall Street高速下载 This is the VOA Special English Ec
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Financial Reform Law Aims to Change Some of the Ways of Wall Street


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This is the VOA Special English Economics Report.

On Wednesday, President Obama signed into law the Wall Street Reform and Consumer Protection Act.

BARACK OBAMA: "These reforms represent the strongest consumer financial protections in history -- in history."

Together, the changes represent the biggest rewrite of financial rules since the Great Depression. At the heart of the two thousand three hundred pages in the bill are promises to protect average Americans.

Congress agreed to create a Consumer Financial Protection Bureau. But the Federal Reserve will pay for it. The central bank will budget about five hundred million dollars a year.

Travis Plunkett is legislative director of the Consumer Federation of America, a consumer rights group. He says this new independent office will have a lot of responsibility -- and that is a good thing.

TRAVIS PLUNKETT: "We're going to have one federal consumer financial protection bureau. If it succeeds, people will know it. If it fails, people will know it. And they will try to hold it accountable."

The bureau will set rules for the marketplace and enforce existing laws. One goal is to keep home buyers from getting bigger loans than they can pay for. But two areas where the bureau will not have power is over auto lenders or banks with assets of less than ten billion dollars.

Financial interests spent millions fighting the bill. The House of Representatives passed its version in December. Last week the Senate voted final approval with the aid of three Republican senators.

House Minority Leader John Boehner called the financial reform bill "ill-conceived."

JOHN BOEHNER: "I think it's going to make credit harder for the American people to get, clearly harder for businesses to get."

But President Obama says Wall Street took irresponsible risks that threatened the financial system.

Under the new law, banks can no longer own or invest in certain trading operations. The government has new powers to seize failing financial companies. These include businesses that, during the financial crisis, were considered "too big to fail."

And President Obama says the law does something else.

BARACK OBAMA: "Finally, because of this law, the American people will never again be asked to foot the bill for Wall Street's mistakes. There will be no more tax-funded bailouts. Period."

Regulatory agencies will write hundreds of new rules for banks and other financial companies. This follows years of deregulation.

Opponents in Congress say they will try to block some measures in the new law. But even if those efforts fail, it is too soon to know just how strong the new rules will be.

And that's the VOA Special English Economics Report, written by Mario Ritter. You can comment on our program at en8848.com. And follow us on Facebook, Twitter, Youtube and iTunes at VOA Learning English. I'm Steve Ember.

相关中文报道:

7月21日,美国总统奥巴马签署金融监管改革法案,使之成为法律,标志着历时近两年的美国金融监管改革立法完成,华尔街正式掀开新金融时代序幕。新华社记者申宏摄

  新华网纽约7月21日电(记者牛海荣陈刚)经美国总统奥巴马签署,被称为美国金融史上自“大萧条”以来最严厉的金融监管改革法案21日正式生效。在经历了几轮讨价还价之后,华尔街对于新法反应平静。然而在表面平静的背后,华尔街正在悄然改变。

  作为监管改革的对象,华尔街面临更高的监管标准、更严格的薪酬规定、甚至是被强行分拆清算的风险。一家经济研究机构的分析师指出,在“沃尔克法则”(即把投资银行业务与商业银行业务分离,从根本上限制金融机构的规模和风险敞口,避免“大而不可倒”现象出现)之下,高盛、摩根士丹利等投行的自营业务将受到很大限制,而危机前带来丰厚回报的场外衍生品交易也将明显萎缩;对冲基金和私募股权基金更是从无监管的“影子银行系统”中被纳入严格监管的大框架之下。严格监管会提高交易成本,这本身会导致交易的萎缩,从长期来讲将对自营、场外交易等华尔街高利润部门造成影响。

  本月以来,高盛等公司公布的财报显示,其今年第二季度利润明显下滑,新法会不会导致这些企业的利润进一步下滑,市场已经开始担忧。

  这场改革最大的受益者理论上是美国的投资者和消费者,类似于住房按揭和信用卡贷款中的诈欺行为将受到严厉惩罚。但也有华尔街的评论认为,新的监管改革对消费者而言未必尽是福音,因为信贷审查将更严,贷款可得性将更低,消费者将负担更高的成本,面临更少的选择。对于新法能否彻底改变华尔街,不少业内人士认为,它实际上是个折中的产物。美国奥本海默基金公司董事总经理李山泉在接受记者采访时说:“金融改革法案的初衷之一是解决美国大型金融机构"大而不可倒"的问题,而最初的方案有些耸人听闻,有人提出把大公司拆小,但这又面临着美国企业如何参与国际竞争的问题。因此,最终的法案肯定就是折中的产物,是个"四不像",因为特别激进的东西肯定不能通过,而修改的结果就是从最激进的状态向市场靠拢。”

  李山泉说:“这次监管改革法案的完成标志着共和党奉行的金融自由化的时期已经过去,民主党推崇的大政府、严格监管的时代已到来。从历史角度看,随着两党执政的更迭,美国金融体系还将在自由市场和严格监管的两种政策间左右摇摆。”

  美国华德国际有限公司董事长阿伦·瓦尔代兹说,让华尔街长舒一口气的是,新法案并没有像他们设想的最坏结果那样完全禁止银行进行衍生品交易,而是允许银行保留利率掉期、外汇掉期以及金银掉期等业务。这部分业务占到商业银行各类衍生品交易总量的九成以上,而且即便是那一小部分被要求剥离到附属公司的风险更大的业务,大银行依然可以从中得利。

  美国一家中型投资银行总裁本杰明·卫在接受记者采访时说:“尽管法案出台后几家大银行会不可避免地受到影响,但华尔街大型金融机构的商业模式和盈利状况不会因此产生根本性变化。”

  很多美国媒体也一针见血地指出金融改革法案中的一个先天缺陷,那就是它更多的是告诉监管部门“为什么要这样做”,而不是“应该怎样做”。在法案通过后,监管部门需要成立新的部门,招募更多精英人才以执行新法。这一切都需要时间,而且存在变数。

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