大而不倒（2011）

这是令人震惊的失败
when the House of Representatives voted to reject it.
当众议院投票否决法案
FEMALE NEWSCASTER: It’s a stinging defeat for President Bush,
女新闻播音员：对布♥什♥总统来说，这是刺痛人心的挫败
delivered at the hands of his fellow Republicans.
被身边的共和党同事打击
We put forth a plan that was big because we’ve got a big problem.
鉴于问题的的重大我们也提出相应的计划
The reality is that we’re in an urgent situation.
现实是我们正处于紧迫的情形之中
And the consequences will grow worse each day
每天结果会愈来愈遭
if we do not act.
如果不作为的话
I know. I keep telling… Draft of the new bill.
我知道。我一直… 新提案的草稿
Are they having any luck with it?
顺利吗？
The White House thinks they got a better shot of pushing it
白宫认为他们有更好的办法来推进现况
through the Senate side first. Hopefully they’re right.
先透过参议院。希望白宫是对的
They asked us to back off and let them handle it.
他们要我们别管，白宫自己会掌控
So I’m trying to back off.
我就放手了
Buying toxic assets isn’t gonna work.
购买♥♥不良资产没奏效
Why not? It’s too slow.
为什么？ 太慢了
I think I’ve been saying that.
我早就说过了
Well, we knew it was complicated, but how slow…
这是很复杂，但会有多慢…
Two months, maybe more.
2个月，或更久
How is it possible we didn’t know how…
怎么可能，我们根本不知道…
I didn’t ask how long it would take, okay?
是我没问，好吗？
Can we move on?
继续？
So maybe we can talk about capital injections.
我们商量下资本输注吧
Dan, we really can’t.
丹，不行
I think we’re gonna have to.
必须得这么做
Even if Neel could expedite the process, which seems unlikely,
就算尼尔加快进程，实际看上去不可能
the system is crumbling. The banks need money now.
整个系统已经在坍塌了。银行现在就得要资金
If cash injections are the most efficient way to stabilize them,
如果资本注入是最有效的稳固市场的方法
then we can’t back off
那我们就不能不管了
because we’re uncomfortable being the men who nationalized a few American banks.
因为我们国有化了一些银行，那让人很不安
It’s faster, that’s for sure.
这样会更快，当然
It will push us back off the precipice, yes, unfreeze the system.
这么做，我们会被推到悬崖边上，市场失去自主性
We give them some money and they lend it out.
给银行钱，他们就可以把钱借出去了
The motion is adopted.
议案通过
After rejecting the Bush Administration’s TARP plan only four days ago,
四天前才否决布♥什♥政♥府♥的防水布计划
the House passed it today.
今天参议院就通过了议案
The big question now, whether investors will take comfort in the news.
问题是现在没有投资人觉得心安
Current indicators show the stock market is continuing its free fall.
目前股市仍在持续下跌
华盛顿哥伦比亚特区 凌晨2点
2008年10月13日
WARREN BUFFETT: Hello?
巴菲特：你好？
Warren, it’s Hank.
沃伦，是我汉克
I’m sorry. It’s late.
抱歉，这么晚了
Am I waking you?
把你弄醒了
No, not at aII.
没有没有
Can I pick your brain for a minute?
能麻烦你替我想个法子吗？
Sure. What’s the problem?
行，什么问题？
How do you get a healthy bank to accept a capital injection?
怎样让健康的银行接受资本输注？
I had to drag my ass all the way here from California.
我还是从加州一路屁颠屁颠过来的
They wouldn’t even tell me why.
没告诉我们这是干什么
Nobody knows what this is about?
有人知道吗？
Nope.
没人
Talk to Jamie?
和杰米谈了？
Yep. He’ll be fine.
好，他没事
Did you tell him what was coming?
你跟他说来这儿的原因没？
Uh, did I tell him we’re about to make him swallow
呃，我们告诉他要让他吞下
a capital injection he doesn’t need? No.
一大笔他根本不需要的政♥府♥注入资金？我不会这么做
I, uh…I told him we need his help
呃，我说我们需要你的帮助
and I asked him very politely not to fuck with us today.
我很礼貌地告诉他别搞砸今天的事
He got it.
他懂了
She’s here.
她来了
成立于1933年 , 总部位于华盛顿
Federal Deposit Insurance Corporation: 美国联邦存款保险公♥司♥
董事长
希拉·贝尔
Gentlemen. We think this is gonna work?
绅士们。会管用吗？
Oh, yeah. They’re gonna love it.
噢，他们会喜欢的
We are of the view that the United States needs
我们从国家需求的视角
to take strong, decisive action
去采取强硬和果断的措施
to arrest the stress in our financial system.
限制金融系统背负的压力
Through our new TARP authority,
通过新的防水布计划
Treasury will purchase preferred stock
财政部将会购买♥♥优先股
in each of the banks represented in this room.
包括在坐的每家银行
That stock will yield 5% the first five years,
在开始的5年内股份会让利5%
9% after that.
之后9%
We give you money. You lend it out.
我们给你们钱，你们把它借出去
It will unfreeze credit, stabilize the banks, restore confidence.
它会让信贷解冻，稳定住银行，重塑信心
Everyone will be better off with more capital in the system.
有更多资金注入，每个人的情况都会好转起来
And that is why all nine of you
这就是为什么你们九个
will participate in the program.
会加入这个计划
Some of us don’t need any capital.
我们中一些不需要资本输注
You all need capital.
你们都需要
You have no idea what the market’s gonna look like in a year.
你们根本不了解在一年之内市场会变成什么样
Neither do you.
你们也不知道
I’m not one of you New York guys with your fancy products.
我可不是像你们这样能做新潮产品的纽约人
Why am I in this room talking about bailing you out?
为什么我要在这间房♥谈论什么资本救助？
The stronger banks will serve as cover for the weaker banks.
强有力的银行能够为弱小的银行作掩护
If just some of you take it, the money’s a signal
若是你们忍♥受。这笔钱会成为一个信♥号♥♥
that a bank is too weak to survive. The market will devour it.
银行太脆弱无法存活下去。市场就会毁灭
How much are we talking about?
总共多少钱？
A hundred and twenty-five billion.
一千二百五十亿
Bank of America, 15 billion.
美国银行，一百五十亿
Bank of New York Mellon, three billion.
纽约梅隆银行，三十亿
Citigroup, 25 billion.
花旗集团二百五十亿
Goldman Sachs，10billion.
高盛银行,一百亿
JPMorgan, 25 billion.
摩根大通，二百五十亿
Merrill Lynch, 10 billion.
美林证券，一百亿
Morgan Stanley, 10 billion.
摩根士丹利，一百亿
State Street, two billion.
道富银行，二十亿
Wells Fargo, 25 billion.
富国银行公♥司♥，二百五十亿
What happened to buying toxic assets?
购买♥♥不良资产呢？
Wasn’t that the idea? PAULSON: It’s too slow.
那不是原计划？ 保尔森：太慢了
It’ll be dead before we sort it out.
在把不良资产整理出来前你们就已经完了
So, we’re just handing the reins over to you?
所以我们就这样把控制权上交给你了？
The deal’s actually pretty good.
这交易其实很不错
You turn your nose up at this now and we have to rescue you later,
现在拒绝的话，我们不会再伸手救你了
the terms won’t be nearly as attractive.
条款也不会这么诱人
It’s cheap capital. It’s not the worst idea in the world.
确实是廉价资本。也不是最坏的办法
It is for those of us who already have capital.
这是为你们这些已经有资本的准备的
We will be non-voting shareholders. This will be a temporary measure.
政♥府♥会成为不具投票权的股东。这也只是暂时的举措
What if we decline to be involved?
如果股价衰退了怎么办？
The Chairman of the FDIC is sitting right there.
美国联邦存款保险公♥司♥董事长坐在这儿
Tomorrow you’ll find out
明天你会发现
that you’re not as well capitalized as you think you are.
你可没你想的那样有价值
What kind of protections can you offer on changes for compensation policy?
你为补偿政策的变更能提供什么样的保护？
I mean, if the government is going to become a part-owner,
我是指，假如政♥府♥成为股东
does that mean that the government is going to dictate compensation?
政♥府♥将会支配补偿金吗？
Are you asking me about your bonus right now, John?
你在问你的分红吗，约翰？
I’m running a company.
我在运营公♥司♥
If the Fed tells me I can’t offer competitive pay for talent,
如果美联储告诉我我无法为才能支付有竞争力的酬劳
you’re gonna launch the biggest brain drain this country’s ever seen.
你是在浪费这国家最好的人才
Is that the way you wanna run the banks?
这就是你运营银行的方式？
Until the money is repaid to the Treasury,
在资金偿还给财政部之前
there will be some limitations on tax deductions and golden parachutes.
对课税减免和去职补偿费用是会有一些限制
Well, there you go. I don’t really understand
你看吧。 我真不明白
why there needs to be so much tension about this.
为什么我们要这么剑拔弩张的
The country is facing the worst economy since the Great Depression.
国家正在面临至大萧条以来最糟糕的经济形势
If the financial system collapses, it will take every one of you down.
如果金融系统垮了，你们每个人都逃不过
Give me the papers.
把协议给我
You can’t just sign it. Oh, no?
你不能签。 噢，不行？
Not without your board. My board’s on 24hour notice.
没董事会同意可不行。 我的董事会24小时时刻关注着
I think they’ll go along with it.
我认为他们会赞成的
And if they don’t, they’ll fire me.
如果他们不同意，他们会炒了我
Anyone else?