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2021-05-26

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In 2008, he was CEO of the biggest bank to ever fail. He's worried about another crisis<blockquote>2008年，他是有史以来最大倒闭银行的首席执行官。他担心另一场危机</blockquote>

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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":136896542,"tweetId":"136896542","gmtCreate":1622003725086,"gmtModify":1631893588407,"author":{"id":3577162823356617,"idStr":"3577162823356617","authorId":3577162823356617,"authorIdStr":"3577162823356617","name":"Zsz","avatar":"https://static.tigerbbs.com/71f20502a5ac8aec5b0d547f909943cc","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":8,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","extraTitle":"","html":"<html><head></head><body>Please like n comment</body></html>","htmlText":"<html><head></head><body>Please like n comment</body></html>","text":"Please like n comment","highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/136896542","repostId":1129186705,"repostType":4,"repost":{"id":"1129186705","kind":"news","pubTimestamp":1622001447,"share":"https://www.laohunote.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，他是有史以来最大倒闭银行的首席执行官。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":"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.<blockquote>纽约（CNN Business）13 年前，银行业几乎崩溃。华盛顿互惠银行前首席执行官担心另一个泡沫正在酝酿。</blockquote> 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.<blockquote>Kerry Killinger 于 1990 年被任命为 WaMu 首席执行官，并于 2008 年 9 月被解雇——就在几周前，由于越来越多的抵押贷款出现问题，该银行倒闭。</blockquote> 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.<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 亿美元的巨型储蓄和贷款公司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 亿美元的抛售价格出售给摩根大通 (JPM)。</blockquote> Killinger spoke to CNN Business about the similarities and differences between now and 13 years ago.<blockquote>Killinger 向 CNN Business 讲述了现在和 13 年前的异同。</blockquote> The good news<blockquote>好消息</blockquote> 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.<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，并确保像2008年那样的灾难永远不会再次发生。</blockquote> 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.<blockquote>好消息是，基林格认为，在金融危机后出台了《多德弗兰克法案》和《沃尔克规则》等法律以使大银行更安全之后，摩根大通和其他“大到不能倒的银行”现在的状况要好得多。</blockquote> 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.<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> \"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.\"<blockquote>“受监管的银行现在确实拥有更集中的市场份额，因此他们必须更加小心，”基林格说。“但这个行业的健康状况很好，盈利也不错，监管也很强。我对此并不太担心。”</blockquote> 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.<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。但基林格担心经济中许多其他领域的泡沫威胁到市场的稳定。</blockquote> Too big to fail 2.0?<blockquote>大到不能倒2.0？</blockquote> 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.<blockquote>尽管房价再次飙升，但基林格更紧张的是，0% 利率和美联储的大量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 合并和奇异的交易所交易基金。</blockquote> \"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.\"<blockquote>“如今的泡沫在各个类别中都更加广泛和深刻，而不仅仅是房地产，”基林格说。“美联储的低利率和大规模资产购买政策在摆脱经济衰退方面效果很好，但当你继续延长该政策时，可能会造成意想不到的后果。”</blockquote> \"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.<blockquote>“经济继续改善。现在是美联储放松刺激并允许利率上升的时候了，”他补充道。</blockquote> 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.\"<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：上次金融危机如何影响今天》。</blockquote> 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.<blockquote>琳达·基林格告诉美国有线电视新闻网商业频道，她对金融科技公司和对冲基金的崛起感到担忧。私募股权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> \"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.<blockquote>她说：“非银行体系是问题的一大部分。网上银行和许多私营公司等不受监管的银行仍然提供大量贷款。”</blockquote> Large financial firms may be embracing too much risk again<blockquote>大型金融公司可能再次承担过多风险</blockquote> At least one prominent senator is worried, like the Killingers are, that some financial firms are once again getting too unwieldy.<blockquote>至少有一位著名的参议员和杀手一样担心，一些金融公司再次变得过于笨拙。</blockquote> 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.\"<blockquote>今年早些时候，伊丽莎白·沃伦 (Elizabeth Warren) 向财政部长珍妮特·耶伦 (Janet Yellen) 提出质疑，为什么贝莱德 (BLK)（管理着超过 9 万亿美元资产但不是银行的 iShares ETF 巨头）不被认为“大到不能倒”。</blockquote> 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&amp;T (T) is planning to merge its WarnerMedia unit, CNN's parent company, with Discovery.)<blockquote>当 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) 和探索频道 (DISCA) 以及中国科技公司百度 (BIDU) 和腾讯控股音乐 (TME) 持有大量股份时，华尔街已经短暂地感受到了其中一些公司的风险有多大。内爆并给银行造成了数十亿美元的损失。（美国电话电报公司 (AT&amp;T) 计划将其 CNN 母公司华纳媒体部门与 Discovery 合并。）</blockquote> 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.<blockquote>美联储方面也承认，长期维持低利率并继续提供危机级别的刺激措施会给市场和经济带来越来越大的风险。</blockquote> 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.\"<blockquote>在最近一次政策会议纪要中，央行承认，“如果经济继续朝着委员会的目标取得快速进展，在即将举行的会议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> 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.<blockquote>但克里·基林格认为，美联储必须更好地对大银行进行压力测试，以确定它们对过去一年飙升的某些类型资产的敞口，以确保它们能够承受更大的波动。</blockquote> \"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.\"<blockquote>他表示：“美联储在上次危机中犯了低估次贷的错误。”他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有限。”</blockquote> \"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.\"<blockquote>“资产泡沫正在加剧，”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，企业的表现将如何。如果出现重大调整，影响可能是巨大的。”</blockquote> 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.<blockquote>大银行的负责人也将在本周晚些时候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> 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.<blockquote>摩根大通首席执行官杰米·戴蒙将出席两场听证会，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>","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，他是有史以来最大倒闭银行的首席执行官。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，他是有史以来最大倒闭银行的首席执行官。他担心另一场危机</blockquote>\n</h2>\n<h4 class=\"meta\">\n\ncnn2021-05-26 11:57\n\n</h4>\n</header>\n<article>\nNew 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.<blockquote>纽约（CNN Business）13 年前，银行业几乎崩溃。华盛顿互惠银行前首席执行官担心另一个泡沫正在酝酿。</blockquote> 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.<blockquote>Kerry Killinger 于 1990 年被任命为 WaMu 首席执行官，并于 2008 年 9 月被解雇——就在几周前，由于越来越多的抵押贷款出现问题，该银行倒闭。</blockquote> 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.<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 亿美元的巨型储蓄和贷款公司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 亿美元的抛售价格出售给摩根大通 (JPM)。</blockquote> Killinger spoke to CNN Business about the similarities and differences between now and 13 years ago.<blockquote>Killinger 向 CNN Business 讲述了现在和 13 年前的异同。</blockquote> The good news<blockquote>好消息</blockquote> 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.<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，并确保像2008年那样的灾难永远不会再次发生。</blockquote> 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.<blockquote>好消息是，基林格认为，在金融危机后出台了《多德弗兰克法案》和《沃尔克规则》等法律以使大银行更安全之后，摩根大通和其他“大到不能倒的银行”现在的状况要好得多。</blockquote> 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.<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> \"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.\"<blockquote>“受监管的银行现在确实拥有更集中的市场份额，因此他们必须更加小心，”基林格说。“但这个行业的健康状况很好，盈利也不错，监管也很强。我对此并不太担心。”</blockquote> 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.<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。但基林格担心经济中许多其他领域的泡沫威胁到市场的稳定。</blockquote> Too big to fail 2.0?<blockquote>大到不能倒2.0？</blockquote> 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.<blockquote>尽管房价再次飙升，但基林格更紧张的是，0% 利率和美联储的大量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 合并和奇异的交易所交易基金。</blockquote> \"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.\"<blockquote>“如今的泡沫在各个类别中都更加广泛和深刻，而不仅仅是房地产，”基林格说。“美联储的低利率和大规模资产购买政策在摆脱经济衰退方面效果很好，但当你继续延长该政策时，可能会造成意想不到的后果。”</blockquote> \"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.<blockquote>“经济继续改善。现在是美联储放松刺激并允许利率上升的时候了，”他补充道。</blockquote> 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.\"<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：上次金融危机如何影响今天》。</blockquote> 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.<blockquote>琳达·基林格告诉美国有线电视新闻网商业频道，她对金融科技公司和对冲基金的崛起感到担忧。私募股权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> \"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.<blockquote>她说：“非银行体系是问题的一大部分。网上银行和许多私营公司等不受监管的银行仍然提供大量贷款。”</blockquote> Large financial firms may be embracing too much risk again<blockquote>大型金融公司可能再次承担过多风险</blockquote> At least one prominent senator is worried, like the Killingers are, that some financial firms are once again getting too unwieldy.<blockquote>至少有一位著名的参议员和杀手一样担心，一些金融公司再次变得过于笨拙。</blockquote> 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.\"<blockquote>今年早些时候，伊丽莎白·沃伦 (Elizabeth Warren) 向财政部长珍妮特·耶伦 (Janet Yellen) 提出质疑，为什么贝莱德 (BLK)（管理着超过 9 万亿美元资产但不是银行的 iShares ETF 巨头）不被认为“大到不能倒”。</blockquote> 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&amp;T (T) is planning to merge its WarnerMedia unit, CNN's parent company, with Discovery.)<blockquote>当 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) 和探索频道 (DISCA) 以及中国科技公司百度 (BIDU) 和腾讯控股音乐 (TME) 持有大量股份时，华尔街已经短暂地感受到了其中一些公司的风险有多大。内爆并给银行造成了数十亿美元的损失。（美国电话电报公司 (AT&amp;T) 计划将其 CNN 母公司华纳媒体部门与 Discovery 合并。）</blockquote> 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.<blockquote>美联储方面也承认，长期维持低利率并继续提供危机级别的刺激措施会给市场和经济带来越来越大的风险。</blockquote> 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.\"<blockquote>在最近一次政策会议纪要中，央行承认，“如果经济继续朝着委员会的目标取得快速进展，在即将举行的会议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> 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.<blockquote>但克里·基林格认为，美联储必须更好地对大银行进行压力测试，以确定它们对过去一年飙升的某些类型资产的敞口，以确保它们能够承受更大的波动。</blockquote> \"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.\"<blockquote>他表示：“美联储在上次危机中犯了低估次贷的错误。”他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有限。”</blockquote> \"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.\"<blockquote>“资产泡沫正在加剧，”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，企业的表现将如何。如果出现重大调整，影响可能是巨大的。”</blockquote> 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.<blockquote>大银行的负责人也将在本周晚些时候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> 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.<blockquote>摩根大通首席执行官杰米·戴蒙将出席两场听证会，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>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://edition.cnn.com/2021/05/25/investing/washington-mutual-kerry-killinger-banks/index.html\">cnn</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\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",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"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":{".SPX":0.9,"SPY":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2513,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":18,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/136896542"}