183b0624
2021-05-26
New York
New York
New york
In 2008, he was CEO of the biggest bank to ever fail. He's worried about another crisis<blockquote>2008年，他是有史以来倒闭的最大银行的首席执行官。他担心另一场危机</blockquote>
免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。
分享至
微信
复制链接
精彩评论
我们需要你的真知灼见来填补这片空白
打开APP，发表看法
APP内打开
发表看法
2
4
{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":136611218,"tweetId":"136611218","gmtCreate":1622013282334,"gmtModify":1631884479032,"author":{"id":3582779302435806,"idStr":"3582779302435806","authorId":3582779302435806,"authorIdStr":"3582779302435806","name":"183b0624","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":4,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>New York </p><p>New York</p><p>New york</p></body></html>","htmlText":"<html><head></head><body><p>New York </p><p>New York</p><p>New york</p></body></html>","text":"New York New York New york","highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/136611218","repostId":1129186705,"repostType":4,"repost":{"id":"1129186705","kind":"news","pubTimestamp":1622001447,"share":"https://www.laohu8.com/m/news/1129186705?lang=zh_CN&edition=full","pubTime":"2021-05-26 11:57","market":"us","language":"en","title":"In 2008, he was CEO of the biggest bank to ever fail. He's worried about another crisis<blockquote>2008年，他是有史以来倒闭的最大银行的首席执行官。他担心另一场危机</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129186705","media":"cnn","summary":"New York The banking world nearly caved in 13 years ago. The former CEO of Washington Mutual is worried that another bubble is brewing.Kerry Killinger was named CEO of WaMu in 1990 and was fired in September 2008 -- just weeks before the bank failed as a growing number of mortgage loans went bad.\"Regulated banks do have more concentrated market share now so they have to be more careful,\" Killinger said. \"But the health of the industry is great, earnings are good and oversight is strong. I'm not ","content":"<p>New York (CNN Business)The banking world nearly caved in 13 years ago. The former CEO of Washington Mutual is worried that another bubble is brewing.</p><p><blockquote>纽约（CNN商业）13年前，银行界几乎崩溃了。华盛顿互惠银行的前首席执行官担心另一个泡沫正在酝酿。</blockquote></p><p> Kerry Killinger was named CEO of WaMu in 1990 and was fired in September 2008 -- just weeks before the bank failed as a growing number of mortgage loans went bad.</p><p><blockquote>克里·基林格(Kerry Killinger)于1990年被任命为WaMu首席执行官，并于2008年9月被解雇——就在该银行因越来越多的抵押贷款出现不良而倒闭的几周前。</blockquote></p><p> WaMu was one of several top financial firms to collapse during the financial crisis last decade, but the giant savings and loan with more than $300 billion in assets still ranks as the biggest-ever bank failure. WaMu was seized by regulators in September 2008 and sold to JPMorgan Chase (JPM) for a fire-sale price of $1.9 billion.</p><p><blockquote>WaMu是过去十年金融危机期间倒闭的几家顶级金融公司之一，但这家资产超过3000亿美元的储蓄和贷款巨头仍然是有史以来最大的银行倒闭事件。WaMu于2008年9月被监管机构查封，并以19亿美元的贱卖价格出售给摩根大通(JPM)。</blockquote></p><p> Killinger spoke to CNN Business about the similarities and differences between now and 13 years ago.</p><p><blockquote>Killinger向CNN Business讲述了现在与13年前的异同。</blockquote></p><p> <b>The good news</b></p><p><blockquote><b>好消息是</b></blockquote></p><p> The Global Financial Crisis led to a wave of new federal rules that were designed to strengthen the balance sheets of top banks and ensure that another catastrophe like 2008 could never happen again.</p><p><blockquote>全球金融危机导致了一波新的联邦规则，旨在加强顶级银行的资产负债表，并确保类似2008年的灾难永远不会再次发生。</blockquote></p><p> The good news is that Killinger thinks JPMorgan Chase and other \"too big to fail banks\" are in much better shape now after laws like Dodd-Frank and the Volcker Rule were put into place in the wake of the financial crisis to make big banks safer.</p><p><blockquote>好消息是，基林格认为，在金融危机后实施多德弗兰克法案和沃尔克规则等法律以使大银行更加安全之后，摩根大通和其他“太大而不能倒的银行”现在的状况要好得多。</blockquote></p><p> That group of institutions also includes Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS) and Morgan Stanley (MS), as well as others that received government bailouts in 2008.</p><p><blockquote>这组机构还包括美国银行(BAC)、花旗集团(C)、富国银行(WFC)、高盛(GS)和摩根士丹利(MS)，以及其他在2008年接受政府救助的机构。</blockquote></p><p> \"Regulated banks do have more concentrated market share now so they have to be more careful,\" Killinger said. \"But the health of the industry is great, earnings are good and oversight is strong. I'm not too concerned there.\"</p><p><blockquote>“受监管的银行现在确实拥有更加集中的市场份额，因此他们必须更加小心，”基林格说。“但该行业的健康状况良好，盈利良好，监管也很有力。我对此并不太担心。”</blockquote></p><p> Subprime lending, the practice of giving mortgages to people with less-than-worthy credit histories, isn't nearly as prevalent as it was during the last housing boom. But Killinger is worried about bubbles in many other parts of the economy that threaten the stability of the markets.</p><p><blockquote>次级贷款，即向信用记录不佳的人提供抵押贷款的做法，已经不像上次房地产繁荣时期那样普遍了。但基林格担心许多其他经济领域的泡沫会威胁到市场的稳定。</blockquote></p><p> <b>Too big to fail 2.0?</b></p><p><blockquote><b>大到不能倒2.0？</b></blockquote></p><p> Although housing prices have surged again, Killinger is more nervous about the fact that 0% interest rates and big bond purchases by the Federal Reserve have sparked a broader mania in other assets, including cryptocurrencies and non-fungible tokens (NFTs), meme stocks, blank check SPAC mergers and exotic exchange-traded funds.</p><p><blockquote>尽管房价再次飙升，但Killinger更紧张的是，0%的利率和美联储的大规模债券购买引发了其他资产更广泛的狂热，包括加密货币和不可替代代币（NFT）、模因股票、空白支票SPAC合并和异国情调的交易所交易基金。</blockquote></p><p> \"The bubbles today are broader and deeper in a variety of categories, not just housing,\" Killinger said. \"The Fed's policy of low rates and massive asset purchases worked well to get out of the downturn, but when you keep extending it you can cause unintended consequences.\"</p><p><blockquote>基林格说：“如今的泡沫在各个类别中都更广泛、更深，而不仅仅是房地产。”“美联储的低利率和大规模资产购买政策很好地摆脱了经济低迷，但当你继续延长政策时，可能会造成意想不到的后果。”</blockquote></p><p> \"The economy continues to improve. It's time for the Fed to pull in the reins on stimulus and allow interest rates to rise,\" he added.</p><p><blockquote>“经济继续改善。美联储是时候收紧刺激政策并允许利率上升了，”他补充道。</blockquote></p><p> Killinger and his wife Linda, a former vice chair of the Federal Home Loan Bank of Des Moines, have written a book about the 2008 meltdown called \"Nothing Is Too Big to Fail: How the Last Financial Crisis Informs Today.\"</p><p><blockquote>基林格和他的妻子琳达（得梅因联邦住房贷款银行前副主席）写了一本关于2008年金融危机的书，名为《没有什么大到不能倒：上次金融危机对今天的影响》。</blockquote></p><p> Linda Killinger told CNN Business she's concerned about the rise of of financial tech companies, hedge funds. private equity firms and other so-called shadow banks that face little to no regulation in Washington.</p><p><blockquote>琳达·基林格(Linda Killinger)告诉CNN Business，她对金融科技公司和对冲基金的崛起感到担忧。私人股本公司和其他所谓的影子银行在华盛顿几乎没有受到监管。</blockquote></p><p> \"The non-bank system is a big part of the problem. And there are still a lot of loans being done by non-regulated banks such as online banks and many private companies,\" she said.</p><p><blockquote>“非银行系统是问题的一个重要部分。而且仍然有很多贷款是由不受监管的银行如网上银行和许多私营公司提供的，”她说。</blockquote></p><p> <b>Large financial firms may be embracing too much risk again</b></p><p><blockquote><b>大型金融公司可能再次承担过多风险</b></blockquote></p><p> At least one prominent senator is worried, like the Killingers are, that some financial firms are once again getting too unwieldy.</p><p><blockquote>至少有一位著名的参议员担心，就像杀手一样，一些金融公司再次变得过于笨重。</blockquote></p><p> Elizabeth Warren questioned Treasury secretary Janet Yellen earlier this year about why BlackRock (BLK), the iShares ETF giant that manages more than $9 trillion in assets but is not a bank, is not considered \"too big to fail.\"</p><p><blockquote>伊丽莎白·沃伦(Elizabeth Warren)今年早些时候向财政部长珍妮特·耶伦(Janet Yellen)询问，为什么管理着超过9万亿美元资产但不是银行的iShares ETF巨头贝莱德(BLK)不被认为是“大到不能倒”。</blockquote></p><p> Wall Street has already gotten a brief taste of how risky some of these firms are when Archegos Capital Management, a family office with big positions in media giants ViacomCBS (VIACA) and Discovery (DISCA) and Chinese techs Baidu (BIDU) and Tencent Music (TME), imploded and caused billions of dollars in losses for banks. (AT&T (T) is planning to merge its WarnerMedia unit, CNN's parent company, with Discovery.)</p><p><blockquote>Archegos Capital Management是一家家族办公室，在媒体巨头维亚康姆哥伦比亚广播公司(VIACA)和Discovery(DISCA)以及中国科技公司百度(BIDU)和腾讯控股音乐中持有大量头寸，华尔街已经初步了解了其中一些公司的风险有多大。(TME)崩溃并给银行造成数十亿美元的损失。（AT&T(T)正计划将其CNN母公司WarnerMedia部门与Discovery合并。）</blockquote></p><p> For its part, the Fed has acknowledged some of the growing risks to the markets and economy from keeping rates lower for longer and continuing to provide crisis-level stimulus.</p><p><blockquote>就美联储而言，它承认，长期保持低利率并继续提供危机级别的刺激措施给市场和经济带来了一些日益增长的风险。</blockquote></p><p> In the minutes of its latest policy meeting, the central bank acknowledged that \"if the economy continued to make rapid progress toward the Committee's goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.\"</p><p><blockquote>在最新的政策会议纪要中，央行承认，“如果经济继续朝着委员会的目标取得快速进展，那么在即将举行的会议中的某个时候开始讨论调整资产购买步伐的计划可能是合适的。”</blockquote></p><p> But Kerry Killinger thinks the Fed has to do a better job of stress-testing big banks for their exposure to some of the types of assets that have been surging in the past year to make sure that they can withstand even more volatility.</p><p><blockquote>但克里·基林格认为，美联储必须更好地对大银行对过去一年飙升的某些类型资产的敞口进行压力测试，以确保它们能够承受更大的波动。</blockquote></p><p></p><p> \"The Fed made the mistake of underestimating subprime in the last crisis,\" he said, referring to the now infamous comments from then Fed chair Ben Bernanke in May 2007 that \"the effect of the troubles in the subprime sector on the broader housing market will likely be limited.\"</p><p><blockquote>“美联储在上次危机中犯了低估次贷的错误，”他说，指的是时任美联储主席本·伯南克在2007年5月发表的臭名昭著的言论，即“次贷行业的麻烦对更广泛的房地产市场的影响可能是有限的。”</blockquote></p><p> \"There are growing asset bubbles,\" Kerry Killinger said. \"The Fed needs to test more how firms would perform if these asset prices decline further. If there is a major correction, the impact could be dramatic.\"</p><p><blockquote>“资产泡沫越来越大，”克里·基林格说。“美联储需要更多地测试如果这些资产价格进一步下跌，企业将如何表现。如果出现重大调整，影响可能是巨大的。”</blockquote></p><p> The heads of big banks will also get their chance to talk about their views on the economy later this week. The Senate Banking Committee will hold a hearing on Wednesday and the House Financial Services Committee has one scheduled for Thursday.</p><p><blockquote>本周晚些时候，大银行的负责人也将有机会谈论他们对经济的看法。参议院银行委员会将于周三举行听证会，众议院金融服务委员会定于周四举行听证会。</blockquote></p><p> JPMorgan Chase CEO Jamie Dimon will appear at both hearings, as will new Citgroup CEO Jane Fraser, BofA's Brian Moynihan, Wells Fargo's Charles Scharf, Goldman Sachs CEO David Solomon and Morgan Stanley's James Gorman.</p><p><blockquote>摩根大通首席执行官杰米·戴蒙将出席这两场听证会，花旗集团新任首席执行官简·弗雷泽、美国银行的布莱恩·莫伊尼汉、富国银行的查尔斯·沙夫、高盛首席执行官大卫·所罗门和摩根士丹利的詹姆斯·戈尔曼也将出席。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>In 2008, he was CEO of the biggest bank to ever fail. He's worried about another crisis<blockquote>2008年，他是有史以来倒闭的最大银行的首席执行官。他担心另一场危机</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIn 2008, he was CEO of the biggest bank to ever fail. He's worried about another crisis<blockquote>2008年，他是有史以来倒闭的最大银行的首席执行官。他担心另一场危机</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cnn</strong><span class=\"h-time small\">2021-05-26 11:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p>New York (CNN Business)The banking world nearly caved in 13 years ago. The former CEO of Washington Mutual is worried that another bubble is brewing.</p><p><blockquote>纽约（CNN商业）13年前，银行界几乎崩溃了。华盛顿互惠银行的前首席执行官担心另一个泡沫正在酝酿。</blockquote></p><p> Kerry Killinger was named CEO of WaMu in 1990 and was fired in September 2008 -- just weeks before the bank failed as a growing number of mortgage loans went bad.</p><p><blockquote>克里·基林格(Kerry Killinger)于1990年被任命为WaMu首席执行官，并于2008年9月被解雇——就在该银行因越来越多的抵押贷款出现不良而倒闭的几周前。</blockquote></p><p> WaMu was one of several top financial firms to collapse during the financial crisis last decade, but the giant savings and loan with more than $300 billion in assets still ranks as the biggest-ever bank failure. WaMu was seized by regulators in September 2008 and sold to JPMorgan Chase (JPM) for a fire-sale price of $1.9 billion.</p><p><blockquote>WaMu是过去十年金融危机期间倒闭的几家顶级金融公司之一，但这家资产超过3000亿美元的储蓄和贷款巨头仍然是有史以来最大的银行倒闭事件。WaMu于2008年9月被监管机构查封，并以19亿美元的贱卖价格出售给摩根大通(JPM)。</blockquote></p><p> Killinger spoke to CNN Business about the similarities and differences between now and 13 years ago.</p><p><blockquote>Killinger向CNN Business讲述了现在与13年前的异同。</blockquote></p><p> <b>The good news</b></p><p><blockquote><b>好消息是</b></blockquote></p><p> The Global Financial Crisis led to a wave of new federal rules that were designed to strengthen the balance sheets of top banks and ensure that another catastrophe like 2008 could never happen again.</p><p><blockquote>全球金融危机导致了一波新的联邦规则，旨在加强顶级银行的资产负债表，并确保类似2008年的灾难永远不会再次发生。</blockquote></p><p> The good news is that Killinger thinks JPMorgan Chase and other \"too big to fail banks\" are in much better shape now after laws like Dodd-Frank and the Volcker Rule were put into place in the wake of the financial crisis to make big banks safer.</p><p><blockquote>好消息是，基林格认为，在金融危机后实施多德弗兰克法案和沃尔克规则等法律以使大银行更加安全之后，摩根大通和其他“太大而不能倒的银行”现在的状况要好得多。</blockquote></p><p> That group of institutions also includes Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS) and Morgan Stanley (MS), as well as others that received government bailouts in 2008.</p><p><blockquote>这组机构还包括美国银行(BAC)、花旗集团(C)、富国银行(WFC)、高盛(GS)和摩根士丹利(MS)，以及其他在2008年接受政府救助的机构。</blockquote></p><p> \"Regulated banks do have more concentrated market share now so they have to be more careful,\" Killinger said. \"But the health of the industry is great, earnings are good and oversight is strong. I'm not too concerned there.\"</p><p><blockquote>“受监管的银行现在确实拥有更加集中的市场份额，因此他们必须更加小心，”基林格说。“但该行业的健康状况良好，盈利良好，监管也很有力。我对此并不太担心。”</blockquote></p><p> Subprime lending, the practice of giving mortgages to people with less-than-worthy credit histories, isn't nearly as prevalent as it was during the last housing boom. But Killinger is worried about bubbles in many other parts of the economy that threaten the stability of the markets.</p><p><blockquote>次级贷款，即向信用记录不佳的人提供抵押贷款的做法，已经不像上次房地产繁荣时期那样普遍了。但基林格担心许多其他经济领域的泡沫会威胁到市场的稳定。</blockquote></p><p> <b>Too big to fail 2.0?</b></p><p><blockquote><b>大到不能倒2.0？</b></blockquote></p><p> Although housing prices have surged again, Killinger is more nervous about the fact that 0% interest rates and big bond purchases by the Federal Reserve have sparked a broader mania in other assets, including cryptocurrencies and non-fungible tokens (NFTs), meme stocks, blank check SPAC mergers and exotic exchange-traded funds.</p><p><blockquote>尽管房价再次飙升，但Killinger更紧张的是，0%的利率和美联储的大规模债券购买引发了其他资产更广泛的狂热，包括加密货币和不可替代代币（NFT）、模因股票、空白支票SPAC合并和异国情调的交易所交易基金。</blockquote></p><p> \"The bubbles today are broader and deeper in a variety of categories, not just housing,\" Killinger said. \"The Fed's policy of low rates and massive asset purchases worked well to get out of the downturn, but when you keep extending it you can cause unintended consequences.\"</p><p><blockquote>基林格说：“如今的泡沫在各个类别中都更广泛、更深，而不仅仅是房地产。”“美联储的低利率和大规模资产购买政策很好地摆脱了经济低迷，但当你继续延长政策时，可能会造成意想不到的后果。”</blockquote></p><p> \"The economy continues to improve. It's time for the Fed to pull in the reins on stimulus and allow interest rates to rise,\" he added.</p><p><blockquote>“经济继续改善。美联储是时候收紧刺激政策并允许利率上升了，”他补充道。</blockquote></p><p> Killinger and his wife Linda, a former vice chair of the Federal Home Loan Bank of Des Moines, have written a book about the 2008 meltdown called \"Nothing Is Too Big to Fail: How the Last Financial Crisis Informs Today.\"</p><p><blockquote>基林格和他的妻子琳达（得梅因联邦住房贷款银行前副主席）写了一本关于2008年金融危机的书，名为《没有什么大到不能倒：上次金融危机对今天的影响》。</blockquote></p><p> Linda Killinger told CNN Business she's concerned about the rise of of financial tech companies, hedge funds. private equity firms and other so-called shadow banks that face little to no regulation in Washington.</p><p><blockquote>琳达·基林格(Linda Killinger)告诉CNN Business，她对金融科技公司和对冲基金的崛起感到担忧。私人股本公司和其他所谓的影子银行在华盛顿几乎没有受到监管。</blockquote></p><p> \"The non-bank system is a big part of the problem. And there are still a lot of loans being done by non-regulated banks such as online banks and many private companies,\" she said.</p><p><blockquote>“非银行系统是问题的一个重要部分。而且仍然有很多贷款是由不受监管的银行如网上银行和许多私营公司提供的，”她说。</blockquote></p><p> <b>Large financial firms may be embracing too much risk again</b></p><p><blockquote><b>大型金融公司可能再次承担过多风险</b></blockquote></p><p> At least one prominent senator is worried, like the Killingers are, that some financial firms are once again getting too unwieldy.</p><p><blockquote>至少有一位著名的参议员担心，就像杀手一样，一些金融公司再次变得过于笨重。</blockquote></p><p> Elizabeth Warren questioned Treasury secretary Janet Yellen earlier this year about why BlackRock (BLK), the iShares ETF giant that manages more than $9 trillion in assets but is not a bank, is not considered \"too big to fail.\"</p><p><blockquote>伊丽莎白·沃伦(Elizabeth Warren)今年早些时候向财政部长珍妮特·耶伦(Janet Yellen)询问，为什么管理着超过9万亿美元资产但不是银行的iShares ETF巨头贝莱德(BLK)不被认为是“大到不能倒”。</blockquote></p><p> Wall Street has already gotten a brief taste of how risky some of these firms are when Archegos Capital Management, a family office with big positions in media giants ViacomCBS (VIACA) and Discovery (DISCA) and Chinese techs Baidu (BIDU) and Tencent Music (TME), imploded and caused billions of dollars in losses for banks. (AT&T (T) is planning to merge its WarnerMedia unit, CNN's parent company, with Discovery.)</p><p><blockquote>Archegos Capital Management是一家家族办公室，在媒体巨头维亚康姆哥伦比亚广播公司(VIACA)和Discovery(DISCA)以及中国科技公司百度(BIDU)和腾讯控股音乐中持有大量头寸，华尔街已经初步了解了其中一些公司的风险有多大。(TME)崩溃并给银行造成数十亿美元的损失。（AT&T(T)正计划将其CNN母公司WarnerMedia部门与Discovery合并。）</blockquote></p><p> For its part, the Fed has acknowledged some of the growing risks to the markets and economy from keeping rates lower for longer and continuing to provide crisis-level stimulus.</p><p><blockquote>就美联储而言，它承认，长期保持低利率并继续提供危机级别的刺激措施给市场和经济带来了一些日益增长的风险。</blockquote></p><p> In the minutes of its latest policy meeting, the central bank acknowledged that \"if the economy continued to make rapid progress toward the Committee's goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.\"</p><p><blockquote>在最新的政策会议纪要中，央行承认，“如果经济继续朝着委员会的目标取得快速进展，那么在即将举行的会议中的某个时候开始讨论调整资产购买步伐的计划可能是合适的。”</blockquote></p><p> But Kerry Killinger thinks the Fed has to do a better job of stress-testing big banks for their exposure to some of the types of assets that have been surging in the past year to make sure that they can withstand even more volatility.</p><p><blockquote>但克里·基林格认为，美联储必须更好地对大银行对过去一年飙升的某些类型资产的敞口进行压力测试，以确保它们能够承受更大的波动。</blockquote></p><p></p><p> \"The Fed made the mistake of underestimating subprime in the last crisis,\" he said, referring to the now infamous comments from then Fed chair Ben Bernanke in May 2007 that \"the effect of the troubles in the subprime sector on the broader housing market will likely be limited.\"</p><p><blockquote>“美联储在上次危机中犯了低估次贷的错误，”他说，指的是时任美联储主席本·伯南克在2007年5月发表的臭名昭著的言论，即“次贷行业的麻烦对更广泛的房地产市场的影响可能是有限的。”</blockquote></p><p> \"There are growing asset bubbles,\" Kerry Killinger said. \"The Fed needs to test more how firms would perform if these asset prices decline further. If there is a major correction, the impact could be dramatic.\"</p><p><blockquote>“资产泡沫越来越大，”克里·基林格说。“美联储需要更多地测试如果这些资产价格进一步下跌，企业将如何表现。如果出现重大调整，影响可能是巨大的。”</blockquote></p><p> The heads of big banks will also get their chance to talk about their views on the economy later this week. The Senate Banking Committee will hold a hearing on Wednesday and the House Financial Services Committee has one scheduled for Thursday.</p><p><blockquote>本周晚些时候，大银行的负责人也将有机会谈论他们对经济的看法。参议院银行委员会将于周三举行听证会，众议院金融服务委员会定于周四举行听证会。</blockquote></p><p> JPMorgan Chase CEO Jamie Dimon will appear at both hearings, as will new Citgroup CEO Jane Fraser, BofA's Brian Moynihan, Wells Fargo's Charles Scharf, Goldman Sachs CEO David Solomon and Morgan Stanley's James Gorman.</p><p><blockquote>摩根大通首席执行官杰米·戴蒙将出席这两场听证会，花旗集团新任首席执行官简·弗雷泽、美国银行的布莱恩·莫伊尼汉、富国银行的查尔斯·沙夫、高盛首席执行官大卫·所罗门和摩根士丹利的詹姆斯·戈尔曼也将出席。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/05/25/investing/washington-mutual-kerry-killinger-banks/index.html\">cnn</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://edition.cnn.com/2021/05/25/investing/washington-mutual-kerry-killinger-banks/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129186705","content_text":"New York (CNN Business)The banking world nearly caved in 13 years ago. The former CEO of Washington Mutual is worried that another bubble is brewing.\nKerry Killinger was named CEO of WaMu in 1990 and was fired in September 2008 -- just weeks before the bank failed as a growing number of mortgage loans went bad.\nWaMu was one of several top financial firms to collapse during the financial crisis last decade, but the giant savings and loan with more than $300 billion in assets still ranks as the biggest-ever bank failure. WaMu was seized by regulators in September 2008 and sold to JPMorgan Chase (JPM) for a fire-sale price of $1.9 billion.\nKillinger spoke to CNN Business about the similarities and differences between now and 13 years ago.\nThe good news\nThe Global Financial Crisis led to a wave of new federal rules that were designed to strengthen the balance sheets of top banks and ensure that another catastrophe like 2008 could never happen again.\nThe good news is that Killinger thinks JPMorgan Chase and other \"too big to fail banks\" are in much better shape now after laws like Dodd-Frank and the Volcker Rule were put into place in the wake of the financial crisis to make big banks safer.\nThat group of institutions also includes Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS) and Morgan Stanley (MS), as well as others that received government bailouts in 2008.\n\"Regulated banks do have more concentrated market share now so they have to be more careful,\" Killinger said. \"But the health of the industry is great, earnings are good and oversight is strong. I'm not too concerned there.\"\nSubprime lending, the practice of giving mortgages to people with less-than-worthy credit histories, isn't nearly as prevalent as it was during the last housing boom. But Killinger is worried about bubbles in many other parts of the economy that threaten the stability of the markets.\nToo big to fail 2.0?\nAlthough housing prices have surged again, Killinger is more nervous about the fact that 0% interest rates and big bond purchases by the Federal Reserve have sparked a broader mania in other assets, including cryptocurrencies and non-fungible tokens (NFTs), meme stocks, blank check SPAC mergers and exotic exchange-traded funds.\n\"The bubbles today are broader and deeper in a variety of categories, not just housing,\" Killinger said. \"The Fed's policy of low rates and massive asset purchases worked well to get out of the downturn, but when you keep extending it you can cause unintended consequences.\"\n\"The economy continues to improve. It's time for the Fed to pull in the reins on stimulus and allow interest rates to rise,\" he added.\nKillinger and his wife Linda, a former vice chair of the Federal Home Loan Bank of Des Moines, have written a book about the 2008 meltdown called \"Nothing Is Too Big to Fail: How the Last Financial Crisis Informs Today.\"\nLinda Killinger told CNN Business she's concerned about the rise of of financial tech companies, hedge funds. private equity firms and other so-called shadow banks that face little to no regulation in Washington.\n\"The non-bank system is a big part of the problem. And there are still a lot of loans being done by non-regulated banks such as online banks and many private companies,\" she said.\nLarge financial firms may be embracing too much risk again\nAt least one prominent senator is worried, like the Killingers are, that some financial firms are once again getting too unwieldy.\nElizabeth Warren questioned Treasury secretary Janet Yellen earlier this year about why BlackRock (BLK), the iShares ETF giant that manages more than $9 trillion in assets but is not a bank, is not considered \"too big to fail.\"\nWall Street has already gotten a brief taste of how risky some of these firms are when Archegos Capital Management, a family office with big positions in media giants ViacomCBS (VIACA) and Discovery (DISCA) and Chinese techs Baidu (BIDU) and Tencent Music (TME), imploded and caused billions of dollars in losses for banks. (AT&T (T) is planning to merge its WarnerMedia unit, CNN's parent company, with Discovery.)\nFor its part, the Fed has acknowledged some of the growing risks to the markets and economy from keeping rates lower for longer and continuing to provide crisis-level stimulus.\nIn the minutes of its latest policy meeting, the central bank acknowledged that \"if the economy continued to make rapid progress toward the Committee's goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.\"\nBut Kerry Killinger thinks the Fed has to do a better job of stress-testing big banks for their exposure to some of the types of assets that have been surging in the past year to make sure that they can withstand even more volatility.\n\"The Fed made the mistake of underestimating subprime in the last crisis,\" he said, referring to the now infamous comments from then Fed chair Ben Bernanke in May 2007 that \"the effect of the troubles in the subprime sector on the broader housing market will likely be limited.\"\n\"There are growing asset bubbles,\" Kerry Killinger said. \"The Fed needs to test more how firms would perform if these asset prices decline further. If there is a major correction, the impact could be dramatic.\"\nThe heads of big banks will also get their chance to talk about their views on the economy later this week. The Senate Banking Committee will hold a hearing on Wednesday and the House Financial Services Committee has one scheduled for Thursday.\nJPMorgan Chase CEO Jamie Dimon will appear at both hearings, as will new Citgroup CEO Jane Fraser, BofA's Brian Moynihan, Wells Fargo's Charles Scharf, Goldman Sachs CEO David Solomon and Morgan Stanley's James Gorman.","news_type":1,"symbols_score_info":{"SPY":0.9,".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":345,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":21,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/136611218"}
精彩评论