You can't call up the banker and say that, but if you're playing golf it comes out perfectly naturally.
他们不可能打电话给银行家说这些的,但如果你们一起打球,就会顺口扯到了
That's because the banker is thinking, if I have this amount right now and I invest it for one year, then what do I have.
那是因为银行认为,如果我现在持有这些钱并将其投资一年,然后我会得到什么
Milton was the son of a banker.
弥尔顿是一位银行家的儿子。
The banker knows everybody in the community and when you're playing golf with the banker, it may go beyond just collecting information; the banker might have positive suggestions.
银行家认识圈里的所有人,当你在和他一起打高尔夫的时候,不仅仅能获取资讯,还可能会从银行家那获得建设性的建议
You can't stick your bad paper to the banker who knows everybody in the town; he'll figure it out and that's the -and so that's the problem that's solved by bankers.
你休想把垃圾债权随便卖给银行家,因为他对这个圈子了如指掌,他定会识破的,因此银行家们就解决了逆向选择问题
Of course, the banker isn't going to give you $1 for something that is paying $1 in a year because the banker knows that $1 could be invested at the interest rate.
当然,银行不会因为某些东西,在一年内收益一美元,而给你一美元,因为银行知道一美元能在利率的基础上,用来投资
The companies get advice from the banker as well.
公司也同时会从银行家那得到建议
They're in a -the first thing to understand is that -I start out by telling you the story of the goldsmith banker.
它们...,首先要弄明白的是,在一开始我讲了金匠银行家的故事
One of the stories that is often told is the goldsmith banker's story that goes back I don't know how many hundred years.
经常被人们提起的一个故事是,金匠银行家的故事,它可以追溯到,我不知道是几百年以前了
That's why we need independence of the central bank; we want to have a central banker that can say no to the government.
这就是为什么我们需要独立自主的,中央银行;,我们希望有一个可以对政府说不得,中央银行家。
That is--maybe this goes back to the -I didn't mention it, but it would apply to the old goldsmith banker story as well.
这也许又要回溯到...,我在前面没有提过,金匠银行家的故事同样适合解说这个问题
This goes beyond the simple goldsmith banker story that I was motivating initially.
我在前面讲了一个金匠银行家的故事,现在就没那么简单了
A commercial bank, like a goldsmith banker, accepts deposits--that's critical -and that means you can put money in the bank.
商业银行,就像是一个金匠银行家,接受存款,这一点非常关键,就是说你可以把你的钱放到银行里
I want to first just go back the story I told you in a recent lecture was the story of a goldsmith banker.
我想先回顾一下,在最近的一个讲座中我告诉你们的,一个关于金匠银行家的故事。
Well, the Fed is like that now, but what Paulson and Nason wanted to do is make it more than a banker's bank.
联邦政府现在就像英国银行一样,但是鲍尔森和内森想做的,远远不止中央银行那么点。
You see what the Bank of England emerged into was a banker's bank.
现在你明白了,英格兰银行,是以一个银行主的银行角色出现的。
Bank failures occur when there's not enough gold in the vault and then people start asking for the gold and the goldsmith banker doesn't have it to give out.
当金库没有足够的黄金时,银行就会倒闭,因为当人们开始索要黄金时,金匠银行家却拿不出来
This is exactly the worst nightmare of a central banker.
这真的是一个中央银行主最坏的噩梦。
They trust to the fact that the depositors won't all come on the same day, just like a goldsmith banker -he leaves only enough gold in the safe to cover the kind of withdrawals that are normally accepted.
他们是基于这样一种考量,即储户们不会在同一天上门来取钱,正如金匠银行家那样,他留存在保险箱中的黄金数量,刚好可以应付一般的提款要求
I like to tell that story because it sounds obvious that if you were a goldsmith hundreds of years of ago you would have probably become a banker -it would just be the natural thing to do.
我喜欢讲这个故事,因为这里面的道理很简单,如果你是几百年前的一名金匠,你很可能就会变成一个银行家,这是自然而然的事
Your banker understands that your business can't pay the money back and that the bank has a reputation in the community of helping business people, so they won't ask for the money even though it's a short-term loan that they made to you.
他会理解,你的公司可能无法还钱,在业界里银行向来,有帮助企业家的美名,所以他们不会要求你还钱,即使他们借给你的是短期贷款
What they want to do is expand the actions of the Fed, so that they're not--you can describe the Federal Reserve or any central bank, traditionally, as a banker's bank the Bank of England was the first central bank and it made banks keep deposits at the Bank of England.
他们想做的是扩大政府对经济的调控范围,这样政府就能将联邦储蓄,或者其他中央银行变成银行的银行,英国银行是第一个中央银行,他使其他银行将钱存放在它这里。
So the Suffolk Bank became a banker's bank and it lasted until 1860.
于是,Suffolk银行成为了银行主的银行,并且这一直持续到1860年。
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