愛慕

因为懂得，所以慈悲

Mar 6th 2008
From The Economist print edition

Can bank regulators and central banks prevent future liquidity crises?

JAC

POLICYMAKERS and academics are still grappling with the causes and consequences of the credit crunch. One broad area of agreement is that ample “liquidity” encouraged the lax lending that led to bad mortgage debts, and a sudden dearth of it helped to precipitate the crisis. But what is liquidity, why does it suddenly evaporate and what can central banks and regulators do to ensure that its ebb and flow does not destabilise economies? This and much else is the subject of a special issue of the Bank of France’s Financial Stability Review.*

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2008年2月28日

译自 The Economics print 版

通报评批在中国金融法律空白中的作用

中国金融市场规则缺乏力度并不是什么秘密。每一份发行给西方投资者的中国招股说明书中规则缺失很能说明其中的风险。从成熟的共产主义征收到坏账、内幕交易、市场操纵以及舞弊欺诈都能看到他们的身影。

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Feb 28th 2008
From The Economist print edition

Shame fills a vacuum in China’s financial law enforcement

THE vast gaps in the regulations governing China’s financial markets are no secret. The risks are spelled out in mind-numbing detail in every Chinese share prospectus issued to Western investors. They run the gamut from the possibility of full-blown Communist expropriation to bad accounting, insider trading, market manipulation and fraud.

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2008年2月21日
译自 The Economist Print 版

为何判罚入狱是防止卡特尔的必要手段

GRIMSBY坐落于英格兰东海岸的Humber河口。这里似乎并不是白领犯罪的理想场所。但当三年前，一家名为Unilever的食品公司宣布它将关闭这里的冻条鱼加工厂时，这座一度海洋渔业兴盛的小城陷入了无数的商业纠纷之中。而下个月，三名主管，其中两名来自以Grimsby为基地的Dunlop Oil和Marine公司雇员，因参与全球性卡特尔操控限定价格将在英国入狱服刑。

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Feb 21st 2008
From The Economist print edition

Why the threat of prison is necessary to deter cartels

JAC

GRIMSBY lies on the Humber estuary on England’s east coast. It is an unlikely location for a landmark white-collar crime. The town, which once had a thriving sea-fishing industry, last troubled the business pages three years ago when Unilever, a food company, announced that it was closing its fish-finger factory there. Yet next month three executives, two of them former employees of Dunlop Oil and Marine based in Grimsby, go on trial in Britain for their role in a global price-fixing cartel.

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常言“三十而立，四十而不惑”，岁月静好，伴随着时光的流逝，我们悄悄地迎来了罗伯特·巴乔四十一岁生日。虽然CCTV-5很少再有巴乔的身影，但我们依然不会忘记这位伟大的意大利球星，从九零到九八世界杯，从桑普多利亚到布雷西亚，是你让我们领略到力量与技术的完美结合。

巴乔，生日快乐。

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