T,美國眾議院的民主黨領袖:如果你與格林斯潘和羅伯特。魯賓來到同一個房間,而他們說他們快要嚇死了,他們從沒見過這樣的事,而且他們擔心他們能否扛過去,我就緊張了,因為他們對此的瞭解比我多得多。危機的影響席捲了所有發展中國家。正如魯賓所說,我們以前從來沒有見過這樣的事情。我是說,也許在大蕭條時他們在某一時期看到了這種情況,但是,絕沒有發生得這麼快。
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Chapter 14: The Crisis Reaches America '7:07'
第十四章: 危機波及了美國
NARRATOR: Now the crisis had reached America。 A little…known but powerful private investment fund was on the brink of bankruptcy。
旁白:現在危機已經波及到了美國。一個鮮為人知但很強大的私人投資基金已經到了破產的邊緣。
Long Term Capital Management; or LTCM; directly controlled 100 billion of global assets and; indirectly; more than a trillion dollars。
長資公司,或者LTCM,直接控制著一千億美元的全球資產,間接控制著超過一萬億美元。
JON CORZINE; Co…chairman; Goldman Sachs; 1994…1999: The '90s saw a huge buildup in concentrations that we had never seen on a global scale。 Maybe we had way back in history。 Maybe the Romans had financial institutions that were disproportionately large to the overall activity of the world that they operated in; but LTCM was a specific type of hedge fund。 They were involved whether it was the Singapore exchange; the Tokyo stock exchange; the London stock exchange; the New York。 There was no market that they weren't 'involved in' …… maybe the largest player; or close to the largest player。
JON CORNINE,高盛公司的聯合主席,1994…1999:九十年代見證了我們從沒看到過的全球範圍的集中。也許在歷史上很早期我們有過。也許羅馬帝國曾經有過與整個世界的活動都不成比例的特大的金融機構,但是長資公司是一種特別的對沖基金。他們介入無論是新加坡股票交易所,東京股票交易所,倫敦股票交易所,還是紐約股票交易所等各個交易所。沒有哪一個市場他們沒有(介入)…… 他們可能是最大的或接近最大的玩家。
NARRATOR: By September 1998; LTCM's losses were spiraling out of control。 Contagion had arrived on Wall Street。 Incredibly; the failure of this single investment fund threatened the entire global economy。
旁白:到了1998年9月,長資公司的虧損螺旋上升至失去控制。危機的影響來到了華爾街。令人難以置信的是,就這麼一個單獨的投資基金的失敗竟然威脅到了整個全球經濟。
DANIEL YERGIN: If LTCM went down; it wo