华盛顿和华尔街在监管问题上喋喋不休

译/王易见


   持续信贷危机造成的后果致使一种观念长期笼罩在华尔街——投资银行界有能力应付他们的问题。


   在几十年疏于管制之后,从奥巴马到布什政府的每个人对如何加强金融行业的监管都是各执一词。政府希望在周一采用一个计划彻查整个金融服务行业的法规和规章,从银行到证券公司,包括抵押贷款经纪公司和保险公司。


   根据美联社的报道,这项详细到每个执行细节的计划将赋予美联社广泛的权利去控制金融市场的稳定。这项计划经过了一年的复审和完善,先于信贷危机而诞生,它的诞生适逢对政府在市场上所起的作用的辩论之争------尤其是在两周以前美联储采取措施挽救贝尔斯登于危难之中,并致力于促成贝尔斯登和摩根大通的交易。


   很多华尔街分析师已经意识到政府宏观调控正在加强,例如扩充美联储的角色使之成为一个监察者,并巧妙的采取一些平衡行动。分析师们担心的一点是太多的监管可能会影响公司盈利的能力,甚至会反过来影响到海外金融市场的交易。


   但是,证券行业的贸易集团对政府这一举措持积极态度,在周一,财政部长鲍尔森很可能会在演讲中对这一计划做详细的阐释,鲍尔森曾担任高盛集团首席执行官。


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以下是源于Google Fiance的原文:


Washington, Wall St. tangle on oversight


NEW YORK (AP) - One of the casualties of the ongoing creditcrisis is a long-held(长期的) notion on Wall Street -- that theinvestment banking community can take care of its own problems.


Everyone from Barack Obama to the Bush administration isfloating ideas about how to strengthen oversight of financialinstitutions after decades of deregulation. And the government isexpected to weigh in Monday with a plan to overhaul(彻底检查)regulation of entire financial servicesindustry(整个金融服务行业), from banks and securitiesfirms(证券公司) to mortgage brokers(抵押贷款经纪公司) andinsurance companies.


The administration's plan, detailed in an executivesummary(详细到每个执行细节) obtained by The AssociatedPress(美联社), would give the Federal Reserve(美联储) broadpower to oversee the stability of the financial markets. While theproposal is the result of a year-long review, and thereforepredates the beginning of the credit crisis, it does come as debatewas already under way about the government's role in the markets --particularly after the Fed intervened two weeks ago to save BearStearns Cos. (NYSE:BSC) from collapse by engineering its sale toJPMorgan Chase (NYSE:JPM PRH) (NYSE:JPM PRX) (NYSE:JPM PRK)(NYSE:JPM PRJ) (NYSE:JPT) (NYSE:JPM) & Co.


Many on Wall Street have viewed increased government regulationof investment houses, including an expanded role for the Fed as aregulator, as a tricky balancing act. The fear among analysts isthat too much regulation could hamper the companies' ability todrive profits, and in turn shift an increasing amount of businessto financial centers overseas.


But the trade group representing the securities industry didreact positively(持积极反应) to news of the administration'splan, which is expected to be detailed Monday in a speech byTreasury Secretary Henry Paulson, a former Goldman Sachs Group Inc.(NYSE:GS) chief executive.