转载：格林斯潘的认错

    转载英国《金融时报》的一篇报道，格林斯潘老儿终于认错了。

    Alan Greenspan, the former Federal Reserve chairman, said yesterday the credit crisis had been “much broader than anything I could have imagined”.

    美联储(Fed)主席前任艾伦·格林斯潘昨日表示，信贷危机“其涉及面比我能够想象的要大很多”。

    Mr Greenspan admitted that there had been a “flaw” in his governing ideology.

    格林斯潘承认，他的指导理念存在一个“缺陷”。

    Questioned by Henry Waxman, chairman of the House of Representatives oversight committee, the former Fed chief said he had “found a flaw” in his thinking. “I made a mistake in presuming that the self-interest of organisations, specifically banks and others, was such that they were best capable of protecting their own shareholders,” he said.

    在回答众议院监督委员会主席亨利·沃克斯曼的问题时，美联储的这位前主席表示，他从自己的思路中“发现了一个缺陷”。格林斯潘说：“当时我犯了一个错误，就是假定各机构(具体来讲就是银行和其它企业)的自我利益决定了，它们是保护自己股东利益的最佳方面。”[“当时我犯了一个错误。错就错在以为各个机构（具体来讲就是银行和其他企业）的自我利益就是尽力保护它们股东利益。”]

    Mr Greenspan described the past two decades as a “period of euphoria” that encouraged participants in the financial markets to misprice securities, and accepted he had been wrong to assume that lending institutions would carry out proper surveillance of their counterparties. “I had been going for 40 years with considerable evidence that it was working very well,” he said. “The whole intellectual edifice, however, collapsed in the summer of last year.”

    格林斯潘称，过去20年是一个“愉悦期”，这段时期使金融市场的参与者们获得了鼓励，对证券进行错误定价。他承认，当时认为放贷机构会对借款方予以妥善监督的想法是错误的。格林斯潘表示：“40年来，一直有足够多的证据支持我的想法，表明那样是对的。然而，在去年夏天，我的整个理论体系崩溃了。”

    In the second of two days of packed hearings in which lawmakers and regulators clashed over blame for the financial crisis, Mr Waxman lambasted what he called “the prevailing attitude in Washington . . . that the market always knows best.

    在为期两天的听证会上，美国的立法者和监管者们就此次金融危机该归咎于谁进行了激烈辩论。听证会第二天，沃克斯曼称，“华盛顿的主流观点是……市场总是无所不知的”，他对此提出了猛烈批评。

    He blamed the Federal Reserve for failing to curb aggressive lending practices, the SEC for allowing credit rating agencies to operate under lax standards and the Treasury for opposing “responsible oversight” of financial derivatives.

    沃克斯曼还对美国三个主要经济部门进行了指责：美联储没能有效控制过度放贷行为、美国证券交易委员会(SEC)允许信贷评级机构在宽松的监管标准下运营，以及美国财政部反对“负责任的监督”金融衍生品。