首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
(1) On Wednesday, the Treasury Department released more details of its plan to stress-test the nation’s 19 largest banks to see
(1) On Wednesday, the Treasury Department released more details of its plan to stress-test the nation’s 19 largest banks to see
admin
2018-06-29
21
问题
(1) On Wednesday, the Treasury Department released more details of its plan to stress-test the nation’s 19 largest banks to see just how short of capital they would be if the recession worsened.
(2) Conceptually, the test makes sense. Since many of the banks have been deemed too big to fail, it is important for the government to know in advance how much capital they may need in order to absorb losses and sustain lending. Under the rules of the test, a bank that could not cover a projected shortfall by raising money from private investors would have to accept it from the government. In exchange, the government would take a potentially large ownership stake.
(3) In practice, however, the test could be yet one more step toward what is turning out to be a seemingly endless string of bailouts that do not stop the bleeding, stabilize the banks—or adequately protect taxpayers.
(4) For starters, the test’s worst-case assumptions may not be dire enough. They assume that the economy will contract this year by 3.3 percent and remain flat in 2010, that unemployment will hit 8.9 percent this year and 10.3 percent next year, and that house prices will fall an additional 22 percent this year. That would all be very bad. But given that the economy contracted by 6.2 percent in the fourth quarter of 2008 and that virtually all other economic indicators are flashing red, it is hardly the worst that the government should plan for.
(5) Even if the assumptions prove correct, there is no guarantee that the testing will be rigorous. The tests will be supervised by the government but carried out by the banks. Since a capital infusion by the government would be costly to a bank and pose risks to its existing shareholders, the banks will have an incentive to arrive at the lowest possible capital shortfall.
(6) The result could be a situation much like the present one with Citigroup, in which one bailout follows another, with mounting costs and risks for taxpayers and with investors, borrowers and consumers left to wonder when the banking system will be reliably functional again.
(7) Worse still, even if the tests accurately gauge the banks’ conditions and the government provides adequate capital, taxpayers could still lose big. The government will increase a troubled bank’s capital by purchasing preferred stock that pays a 9 percent dividend. If a bank can’t pay the dividend, it can convert the preferred shares into common stock.
(8) The problem is that a bank is likely to convert the shares only if its condition continues to deteriorate, which would stick the taxpayer with stock falling in value. If the bank’s prospects for recovery are good and it pays back the government within two years, all of the stock’s future gains go to existing common shareholders. The system would be preserved, but by enriching private investors at taxpayers’ expense. That raw deal is improved somewhat if repayment occurs after two years. Unfortunately, chances that a bank would return to health after years on government life support do not seem especially good.
(9) The administration has never adequately explained why rescuing the weakest banks should involve rescuing their shareholders, and by extension, their executives and managers, whose wealth is likely to be concentrated in the stock of the bank. Instead, they have staked out a seemingly arbitrary position, insisting the government should not assume control of perilously weak big banks, even if only to restructure their finances.
(10) Before the stress test results are in and acted upon, taxpayers deserve an explanation.
What’s the author’s attitude towards the stress-test plan?
选项
A、Approving.
B、Sarcastic.
C、Indifferent.
D、Doubtful.
答案
D
解析
态度题。作者先是客观陈述了计划的内容,然后指出了计划的几点不足,担心其实施的实际效果。作者对这个计划是持怀疑态度的,但在行文过程中只是理性地分析问题,并没有攻击或嘲讽,故[D]为正确答案。
转载请注明原文地址:https://jikaoti.com/ti/c5vMFFFM
0
专业英语八级
相关试题推荐
Abouttwo-thirdsoftheworld’spopulationisexpectedtoliveincitiesbytheyear2020and,accordingtotheUnitedNations,
Weallknowthatwedon’tgetenoughsleep.Buthowmuchsleepdowereallyneed?Untilabout15yearsago,onecommontheorywa
Thesuddendeathofanadmiredpublicpersonalwaysseemsanimpossibility.Peopleascribeinvulnerability,nearimmortalityto
IfShakira,aColombianpopstar,marriesherboyfriend,theSpanishnationalfootballerGerardPique,theonlyunusualthingsa
ThetransformationofjournalisminIndia—theworld’slargestdemocracyandoneofitsfastestgrowingeconomies—hasimplicati
ThetransformationofjournalisminIndia—theworld’slargestdemocracyandoneofitsfastestgrowingeconomies—hasimplicati
A、Wealth.B、Beauty.C、Passion.D、Health.D根据句(9)可知,大卫认为,在能让人幸福的事物列表上,健康居于首位。因此答案为[D]。
(1)Forsomewomen,enrollinginanengineeringcourseislikerunningapsychologicalgauntlet.Iftheydodgeovertproblemslik
(1)It’sagoldenageforstudyinginequality.ThomasPiketty,aFrencheconomist,setthebenchmarkin2014whenhisbook,"Capi
(1)It’sagoldenageforstudyinginequality.ThomasPiketty,aFrencheconomist,setthebenchmarkin2014whenhisbook,"Capi
随机试题
案情:在甲涉嫌抢劫一案的庭审过程中,其以检察院的书记员乙曾在侦查阶段参与侦查活动为由,对其提出了回避的申请。对审判人员丙以业务素质不高为由提出了回避的申请:对审判员丁是本案被害人的叔叔为由提出了回避的申请。问题:若因其他法定理由决定丙回避,丙
太阳经头痛的特点是
A.变更登记B.缴销C.变相销售D.调剂使用E.SDA批准医疗机构新增配制剂型的,应按规定办理《医疗机构制剂许可证》()
设计阶段质量控制的任务是()。
背景某装饰公司承接了哈尔滨某四星级酒店工程(含精装修工程),在施工过程中发生如下事件:事件一:施工单位施工组织设计中,屋面防水材料选型采用APP改性沥青防水卷材;在屋顶坡度18%的斜屋面上采用平行屋脊方向铺贴;防水保护层采用细石混凝土,
在期货市场监管方面,我国形成了中国证监会、地方证监局、()、期货市场监控中心和中国期货业协会“五位一体”的期货监管协调工作机制与较为完善的期货监管法律体系。
下列控制活动中,属于检查性控制的是()。
作为整个应用程序入口点的主程序至少应具有下列功能( )。
A.RelationshipBetweenHealthEducationandHealthInformationB.WhatIsHealthEducation?C.RelationshipBetweenHea
Accordingtothepassage,Aprilfool’sDayoriginatedin______.OnAprilfool’sDay,peoplemakefunofothersexceptby_____
最新回复
(
0
)