are proof that people aren’t always motivated by profit.
(fanfare)
我们克服顽疾 取得了历史性的胜利
Announcer: An historic victory over a dread disease.
Jonas Salk医生没有将他的天分耗费在捞取钱财上
Moore: Instead of using his genius to make a ton of money,
而是用尽一切精力
Dr. Jonas Salk spent all of his time
将猴的肾脏放入搅拌器中
putting monkey kidneys in a blender
试图找到一种治疗小儿麻痹症的方法
trying to find a cure for polio.
当成功后 他决定无偿奉献
And when he did, he decided to give it away for free.
如果将疫苗卖♥♥给一家制药公♥司♥
This man could have been rich many times over
此人可以变得非常富有
had he sold his vaccine to a pharmaceutical company.
但他认为他的才能应当用于
But he thought his talents should be used
追求更高的善行
for the greater good.
作为医生和研究教授
And the decent salary he made as a doctor
他的收入很可观
and a research professor was enough for him to live
这足以使他过上舒适生活
a comfortable life.
谁将拥有此项疫苗的专利呢?
Who owns the patent on this vaccine?
嗯 大众 我想说
Well, the people, I would say.
没有专利 你想为太阳申请专利吗?
There is no patent. Would you patent the sun?
自Salk医生以来 我们发生了很大变化
Moore: Yes, we’ve come a long way since the days of Dr. Salk.
因为如今的我们只在一些其他地方费尽心机
Because today our best minds are used for something else.
我们把顶尖的数学家和科学家送往那里了呢?
Where do we send our top math and science people?
金融业界
Into finance.
他们不再进军美国科学界
They don’t go into science in America.
而是涌向华尔街
They go to Wall Street.
今日的学生 与Salk医生时代大有不同
Moore: Today’s students, unlike in Dr. Salk’s time,
他们从大学毕业时 身负助学贷款债务
can graduate from college with a student loan debt
可达10万美元或是更多
of up to $100,000 or more.
这些学生将在今后的20年里
These students are then beholden to the banks
受制于银行
for the next 20 years.
因而还清银行贷款的最好方式
And the best way for them to pay off these banks
就是为他们效劳
is to go to work for them
而不是为公众谋福利
instead of working for the common good.
我们采用那些极具创造性的人才…
Black: We’ve taken people that could be enormously productive–
这也是我们在美国所紧缺的…
just what we’re short of in America–
我们录用他们 并让他们从事一种工作
and we take them and we put them in an activity
这种工作不只是没有建设性
that isn’t simply less productive,
而且还极具破坏力
but where they’re actually destructive;
他们每日辛勤工作 只是让这个世界变得更为糟糕
where actually every day they work, they make the world worse.
那么这些来自哈佛及其他学校的高材生
Moore: So what exactly were the top students from Harvard
现在都在做些什么呢?
and other schools working on these days?
金融衍生品… 金融衍生品… 金融衍生品… 金融衍生品…
Derivatives… derivatives… derivatives… derivatives…
信用违约互换
Credit default swaps.
我根本搞不懂这些
I can’t make any sense out of this.
我最好还是退学吧
I might as well quit.
我刚听到这些新名词时
Moore: That’s exactly how I felt
就是这个感觉
when I started hearing these new terms.
所以我去了纽约证券交易所寻求答案
So I went down to the New York Stock Exchange to get some answers.
先生 你能给我解释一下衍生产品的意思吗?
Sir, can you explain derivatives to me?
谁能解释一下衍生产品或者信用违约交换的意思啊?
Can anybody explain derivatives or credit default swaps?
有人能解释一下吗?
Can someone explain to me what these are?
先生 你能告诉我什么是信用违约交换吗?
Sir, can you tell me what a credit default swap is?
你能解释一下什么是衍生产品吗?
Can you explain a derivative to me?
你能告诉我衍生产品是什么吗?
Can you tell me what a derivative is?
看来没人能告诉我 – 我只是个蓝领工人
Nobody’ll talk to me. – I’m just a blue-collar guy.
我看出来了 嘿
I can see that. Hey.
我就想问一下 – 嗯 继续
I’m looking for some advice. – Yeah, good.
谁能给我点想法吗?
You guys got any advice for me here?
什么是衍生产品? 什么是信用违约交换?
A derivative? Credit default swap?
(sighs)
我终于在华尔街上找到了一位
Moore: I did find one guy on Wall Street
愿意直面镜头的人士了
who wasn’t a film critic.
Marcus Haupt是一名从常春藤联盟毕业的工程师
Marcus Haupt is an Ivy League educated engineer
他以前是雷曼兄弟的副总裁
who was a vice president of Lehman Brothers
在华尔街工作了15个年头
and spent 15 years on Wall Street
创造了所谓的衍生性金融工具
creating what they call complex financial instruments.
什么是衍生产品?
What is a derivative?
衍生产品是依赖于基础资产的
A derivative is a secondary bet
二次博弈
on an underlying product.
比如说你买♥♥了一支股票 你就有了这支股票的支配权
So you may have a stock and you have an option on that stock.
你可以行使这种特权 进行买♥♥卖♥♥
And that option on that stock allows you the privilege
但也可以选择保留
but not the obligation to buy or sell.
我们怎么来操作呢? 你可以决定
How should we put this? You are allowed to make a decision
最终是否要赌一把
of whether or not you want to ultimately take that exposure.
换种说法吧 衍生产品的价格
Let me explain it another way. The derivative’s price
取决于其它资产的价格
is based on the price of something else.
就像是二次方程
It’s kind of like a second-degree equation.
如果你想 那我们说…
If you think of, let’s say…
呃 我得再想想
um, maybe I should go back.
我重讲一遍吧 从这儿重讲
Let me start this over again. Let’s go back here.
我越听越糊涂了
Moore: I was lost.
或许哈佛大学里
Maybe there’s someone at Harvard University
有人能来给我解释一下
who could explain it to me.
没错 那… 那… 那…
Yeah, the– the– the–
那… 那… 那… 那些买♥♥家…
the– the– the– the buyer–
卖♥♥家持有贷款 这笔贷款可能会拖欠
so the seller holds the loan and it might default.
然后他们廉价卖♥♥出…
And they sell off–
有人… 别人…
somebody– somebody else–
对不起 请允许我退回去讲
Sorry, let me just back up.
抱歉 这不是一句两句能说得清的
I apologize. These are pretty exotic.
衍生产品比
Moore: Derivatives are nothing more
复杂的赌博还要复杂
than complicated betting schemes.
这是其中一种衍生产品价值的数学计算式
Here’s what the math equation of one looks like.
算不出来了吧?
Can’t figure it out?
没关系 也没准备让你来算
That’s okay. You’re not supposed to.
他们故意把我们搞糊涂
They’ve made them purposely confusing
这样他们就可以逍遥法外了
so they can get away with murder.
假设你是政♥府♥部门的一名律师
Let’s say you’re a lawyer and you’re coming in
现在来这里审查
and you’re from the government and you’re trying to evaluate
这些东西是否有偷税 漏税
if these things violate the tax code or not.
如果你看得懂他们是怎么计算价格的
If you can figure out what they’re doing,
华尔街的公♥司♥很可能就直接雇你了
most likely that Wall Street firm will offer you a job.
我可以去华尔街让他们
Could I go to Wall Street and just ask them
随便在什么上面派生出一个衍生产品吗?
to set up a derivative on anything?
可以啊
Yes.
我敢这么说 只要有一个金融产品
Believe me, if it’s out there
就必定会有它的衍生产品
there’s a derivative on it.
因此华尔街就变成了这样…
Moore: So this is what Wall Street has come to–
成了一个疯狂赌场
an insane casino.
我们允许他们在任何东西上下注
We’ve allowed them to bet on anything,
包括自己的房♥子
including our family home.
财产代管人 拯救全世界
二十世纪最有权势的央行行长
Reporter #1: …the most powerful central banker of the 20th century.
格林斯潘已经成为经济学的代表
Reporter #2: Greenspan has become an economic icon.
艾伦·格林斯潘称 经济正处于繁荣阶段
Reporter #3: Alan Greenspan says the economy is hunky-dory.
格林斯潘头脑发热了 就像”头脑发热的女孩”那样
Reporter #4: Greenspan gone wild. It’s like “Girls Gone Wild.”
Mick Jagger(滚石乐队主唱)和艾伦·格林斯潘有什么共同之处?
What do Mick Jagger and Alan Greenspan have in common?
艾伦·格林斯潘 在那个时候
Alan Greenspan, who at that moment in time
被认为是全世界有史以来
was surely thought to be the smartest man
最聪明的人
who had walked the face of the earth,
他开始说这么一句话 “让你的房♥屋增值”
he starts using a phrase, “tap your home equity,”
美国人可以让自己的房♥屋增值
that Americans can tap their home equity,
就像艾伦·格林斯潘说的
which is just Alan Greenspan-speak
“借出你的房♥屋”那样
for “borrow against your home.”
如果你偿还不起 你就会失去自己的住所
And if you can’t repay it you’ll lose your house.
这的确说动了大多数美国的老年人
It actually started by talking mostly older Americans,
那些已经有了自己房♥子的人
people who already had homes,
拿房♥屋作抵押去再贷款
into refinancing their homes
最后让自己无家可归
to get them out of houses.
是的 把那些老年人赶出自己的屋子
Moore: Yes, get senior citizens out of their houses.
让那些已经有房♥子的人上当
The scam to swindle people out of the homes
失去自己的屋子 是需要点技巧的
they already owned was masterful.
他们是这么干的
Here’s how it worked.
© 2014-2024 pabulika.com 版权所有
