国产重口老太和小伙乱,国产精品久久久久影院嫩草,国产精品爽爽v在线观看无码 ,国产精品无码免费专区午夜,国产午夜福利100集发布

English 中文網(wǎng) 漫畫網(wǎng) 愛新聞iNews 翻譯論壇
中國網(wǎng)站品牌欄目(頻道)
當前位置: Language Tips > Normal Speed News VOA常速

JP Morgan losses bolster case for new financial regulations

[ 2012-05-14 17:39]     字號 [] [] []  
免費訂閱30天China Daily雙語新聞手機報:移動用戶編輯短信CD至106580009009

Banks stocks took a big hit Friday after JP Morgan Chase and Company reported a $2-billion loss on a complex trading strategy that went bad. The bank's disclosure is renewing debate over the need for tougher financial regulations.

JP Morgan losses bolster case for new financial regulations

It's one of the world's biggest investment banks, and its CEO is among the harshest critics of government efforts to rein in risky financial bets. But in a late night conference call to shareholders, JP Morgan CEO Jamie Dimon told investors the bank may have taken too big a risk.

"We are reducing that hedge, but in hindsight, the new strategy was flawed, complex, poorly reviewed, poorly executed and poorly monitored," said Dimon.

Dimon blamed the $2-billion loss on a complex trading scheme that was ironically,designed to help manage the bank's credit risks. Instead, the trading blunder bolstered the argument that big banks cannot be trusted to handle risks on their own.

"Well, as he [Dimon] said himself, there's egg on his face [he's embarrassed] and it does play very well, as he says, into the pundits who have been advocating the Volcker rule and also the scenario of being too big to fail," said CMC Markets analyst Brenda Kelly.

The Volcker rule is named after former Federal Reserve Chairman Paul Volcker. It would restrict the biggest US banks from making risky investments that do not benefit bank customers. Volcker said such trades involving credit default swaps and other derivatives played a key role in the financial crisis of 2008.

"It was elements of a casino, a very complex casino with all sorts of inter-dependencies. And when it came under pressure, not just from credit default swaps but otherwise, when the system came under pressure - it collapsed," said Volcker.

JP Morgan has warned investors to expect additional losses - sending a shiver through Wall Street. JP Morgan stock lost more than eight per cent of its value. Other financial stocks also suffered big declines.

Analysts fear the scandal will impact regulations not just in the US, but around the world.

"Just as it will in the US and in the eurozone, Asia will not be spared this push down the path of greater, tighter regulations," said Tim Condon, who is head of Asia research at ING Financial Markets.

In a statement Friday, US Senator Carl Levin of Michigan, who has been pushing for new banking rules, said the bank's losses were "a stark reminder of the need for regulators to establish tough, effective standards."

hindsight: perception of the significance and nature of events after they have occurred 后見之明

Related stories:

“占領華爾街”示威者轉戰(zhàn)富豪大宅

近距離觀察:小額信貸業(yè)發(fā)展陣痛

How a promise to guarantee bad debts came to haunt Ireland

Panic follows fraud charges against US billionaire

(來源:VOA 編輯:旭燕)

 
中國日報網(wǎng)英語點津版權說明:凡注明來源為“中國日報網(wǎng)英語點津:XXX(署名)”的原創(chuàng)作品,除與中國日報網(wǎng)簽署英語點津內(nèi)容授權協(xié)議的網(wǎng)站外,其他任何網(wǎng)站或單位未經(jīng)允許不得非法盜鏈、轉載和使用,違者必究。如需使用,請與010-84883631聯(lián)系;凡本網(wǎng)注明“來源:XXX(非英語點津)”的作品,均轉載自其它媒體,目的在于傳播更多信息,其他媒體如需轉載,請與稿件來源方聯(lián)系,如產(chǎn)生任何問題與本網(wǎng)無關;本網(wǎng)所發(fā)布的歌曲、電影片段,版權歸原作者所有,僅供學習與研究,如果侵權,請?zhí)峁┌鏅嘧C明,以便盡快刪除。
 

關注和訂閱

人氣排行

翻譯服務

中國日報網(wǎng)翻譯工作室

我們提供:媒體、文化、財經(jīng)法律等專業(yè)領域的中英互譯服務
電話:010-84883468
郵件:translate@chinadaily.com.cn