Banking crisis lessons learned

Were bankers sorry enough? A member of Britain's Parliament, Colin Breed, discusses the bankers' apologies.

A: I think they probably were bearing in mind what they have lost personally. But of course, they were saying sorry on behalf of their organizations which have affected literally millions of people－shareholders，pensioners , account holders，and of course the taxpayer.

B: What did you learn today that you didn't learn before, besides just the threat of the event？

A: Probably two things. One is that those they will charge with taking the final decisions in such, probably didn't have sufficient experience or training to really understand the Risk Management issues. And secondly, I think the speed with which this event occurred, like... like, it was liken into a tsunami, if you like, this morning. I think that came across; there is something that perhaps we didn't quite understand. We believe, in fact, there was plenty of time for the bankers to adjust their policies and their business models. But they were saying that "no", there was so little time for changing. I think that took about surprise.

B: It was fairly horrifying to listen to so many people basically saying and that this happens so quickly. But also that perhaps they didn't fully understand the entire market. There seemed to be people who were extremely qualified but not qualified in this area--running banks.

A: I think it's exactly right. And I think they relied far too much on outside advice, most notably, of course, the Credit Ratings Agency. From my point of view, it seemed almost impossible that you can consider a mortgage to someone who had no assets, no income and no job, who had ever been part of a AAA derivative.

B: You are a politician. You have to justify the billions of dollars and pounds being spent. And are you angry, are your constituents telling you they are angry? And do you get the feeling that this anger is simmering or is building?

A: There is genuine anger, but the need to actually undertake such a huge bailout of taxpayers' money to people who apparently, and I say "apparently", are still being able to access or have access to bonuses which they have been paid on fictitious profits. And I think there is still no end to the situation, many people feel that we may not be at the end yet. There may still have to be even more government assistance one from another to get us out this enormous hole of the banks' dark forest.

B: Are you angry as a politician?

A: I am angry as a politician and as a former banker myself, because I think that I’m very proud of profession and a banking history which goes back to centuries has been brought down to this sort of ignominy. And I am angry of that and I am angry they have actually had to resort to huge amount of taxpayers’ money which could be much better spent on other things.

GLOSSARY

1. bear in mind v.记住 牢记不完

2. literally Really; actually:真实地；确切地（表示强调语气）

3. Risk Management 风险管理

4. come across 来到, 偶遇, <口>给人印象深刻 不期而遇,交付

5. Credit Ratings Agency 信用等级评价机构

6. derivative n.派生的事物, 派生词adj.引出的, 系出的

7. constituent n.委托人, 要素adj.有选 举权的；

8. simmer vt.慢煮 煨, 炖, n.将沸腾的状态,

9. fictitious profit 虚构利润

10. government assistance n.政府援助

11. ignominy n.耻辱

文本参考中文翻译
银行家们的道歉就算了事吗？英国下议院议员Colin Breed谈到了银行家们的道歉。

A：我觉得他们可能记得的是他们自己的受损，但是当然，他们也代表其使数百万人受损的组织而道歉，这些受损者有股东、领年金者、账户持有者，当然还有纳税人。

B：除了这次危机的危害，你如今学到了哪些以前没有明白的东西？

A：可能有两个方面。一是他们会最终决定控告，以经验或接受的培训不足而难以真正理解风险管理的理由。二是这次危机爆发的速度，很像海啸，我想今天早上已经来了，这点

可能是我们真的难以理解的。事实上，我相信银行家们是有充足的时间来调整他们的政策和商业模式的，但是他们说“不”，因此几乎没有时间来做出改变了，我想这是让人吃惊的。

B:但是听到如此多的人都说（危机）来得很快，这是相当可怕的。但是可能并没有充分了解整个市场。似乎有这样的人，他们相当胜任，但却无法胜任这个领域：经营银行。

A:我觉得很对。我想他们过多地依赖于外界的建议，特别地，当然是指客户信贷分类机构。在我看来，向一个没有资产、没有收入、没有工作、从未被列入信用等级的人抵押，是几乎不可能的。

B：你是一名政治家，你必须要正当使用数十亿美元和英镑，你生气吗？你的委托人告诉你他们生气吗？你感觉这种生气是激昂的还是渐涨的？

A：确实很生气。但是也需要真正理解拿着如此巨大的一笔资金，也就是纳税人的钱去救市，就那些“似乎”可以有得到红利渠道的那些人，而这些红利是从虚假利润中得来的。我

觉得这种现状还没有结束，许多人认为可能还没有结束。可能还会有更多的“拆了东墙补西墙”式的政府资助，来帮助我们摆脱银行巨大的漏洞。

B：作为一名政治家你生气吗？

A：我自己作为一名政治家和曾经的银行家而生气，我想我为这个职业而骄傲，为银行业过去几个世纪的历史而骄傲，因银行业的这次耻辱而生气。我生气还因为他们必须要求助于纳税人大笔的钱，而这笔钱本来是可以花在别的事情上的。

ignominy ['ignəmini] n. 羞耻,屈辱
derivative [di'rivətiv] dj. 引出的,系出的n. 引出之物,系出物,衍生字n. 导数, 微商