The U.S. Is actually an important country for regulation because it has been a model for much of the regulations around the world.
在监管方面,美国确实是一个重要的国家,美国的监管制度已成为各国的模板
The only reason I believe that we have financial markets that work is because we have regulations.
之所以我相信金融市场能够,维持良好运转的唯一原因,就是金融监管的存在
Now, you may know that New York City and other places around the country have enacted regulations to stop Trans fats being served in restaurants.
你们可能知道,纽约市和国内某些地方,颁布了卫生条例,禁止餐馆使用反式脂肪
They make laws but the laws are not binding on anyone, they're just suggested laws or regulations.
他们编制法规,但是却没有强制意义,他们只是对法规或者监管进行建议
I'm going to give a kind of a history of financial regulations in the United States that makes it rather a simple story.
我要讲讲美国金融监管史上的一些要点,我们长话短说
I'm going to talk primarily about U.S. Regulations and give a little history of them.
首先,我想谈谈美国的监管,讲讲历史
A lot of people in the financial community are annoyed by them because these regulations are costly to comply with and they take a lot of resources.
很多金融界人士对其烦不胜烦,因为执行规范条例的成本很高,一旦执行,占用太多资源
It's an international effort to recommend regulations for countries all over the world.
向世界各国推行监管制度,是个全球性的努力目标
We have historically developed regulations that deal with these problems.
有关机构已经制定了,处理这类问题的监管方法
We need--and there's a lot of talk in Congress right now -we need to think about new regulations that protect individuals, much like the regulations that the HOLC and the FHA made.
现在国会里有很多人都在讨论这个问题,我们需要思考关于,能用来保护个人权益的新法规,像房主贷款公司和联邦住宅管理局的制度
It rankles, but on the other hand, these regulations survive because the reality is that people are victimized all the time and we can't just allow companies to act in secrecy.
这让人不爽,但是从另一个角度,金融监管制度之所以长期存在,是因为现实中,大众一直都是牺牲品,我们不能任由那些公司在幕后操纵
This is just an example of their regulations.
这就是监管制度中的一个例子
They have lots of maybe good-- maybe it's not because they're irrational, it's that they're political or they're constrained by tradition or laws or regulations, all sorts of things; but, they're not holding the tangency portfolio.
他们有很多好的原因-,也许并不是因为他们不够理性,而是由于他们有自己政治上的考虑,或者是他们本身被传统,法律以及规则等一系列的因素,所限制;,因此他们不会持有切线资产组合。
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