Wall Street prides itself on being a meritocracy [2], but those who fail spectacularly often get a second chance: think of John Meriwether [4] of Long-Term Capital Management [3].
华尔街虽一直因其用人唯才[2]而自豪,但那些引人注目的失败者却往往可以得到第二次机会:不妨看看曾创办长期资本管理公司(LTCM)[3]的JohnMeriwether[4]现在在做什么。
Unlike Wall Street meltdowns in decades past — from Drexel Burnham Lambert Inc. to Long-Term Capital Management — the Bear Stearns collapse spurred direct intervention from the Federal Reserve.
过去的几十年中,有些华尔街的公司也曾彻底垮台,例如德崇证券(DrexelBurnhamLambertInc .)和长期资本管理公司(Long - Term Capital Management),但是这次贝尔斯登不同,它的垮塌引来了美联储的直接干预。
They are naturally keen to avoid a repeat of 1998, when the collapse of Long-Term Capital Management (LTCM) prompted a liquidity crisis.
他们致力于避免重蹈98年的覆辙,当年,长期资本管理的崩溃引起了一场流动性危机。
There were bumps along the way, such as the near-collapse of Long-Term Capital Management (LTCM), a hedge fund, and the dotcom bust, but each time markets recovered relatively quickly.
前进的道路上亦有坎坷,比如说长期资本管理公司(LTCM)和对沖基金的近乎崩溃,网络泡沫,但是每一次,市场总能快速恢复。
Media interest in hedge funds is focused on the collapse of Long-Term Capital Management in 1998 and the risks to the financial system of a similar debacle.
关于对沖基金,媒体的兴趣集中在1998年长期资本控制崩盘、金融系统可能发生这种崩溃的风险上。
The parallel that worries me is what happened a decade ago, after the hedge fund Long-Term Capital Management failed, temporarily causing the whole financial system to freeze up.
同时我还在担心的是10年前所发生的事。 当时长期资本管理公司(Long-Term Capital Management)濒临破产,引起了整个金融系统暂时冻结。
It has already undergone several upheavals in its history, including the collapse of Long-Term Capital Management and the fall of the big macro funds in the 1990s.
它已经接受了几次历史上的考验,包括上世纪90年代美国长期资本管理公司失败和大型宏观基金失败。
Noam Scheiber offers further critique, proposing that the moral hazard problem might have even been greater if Long-Term Capital Management had been allowed to go under.
诺姆·塞贝尔在他的评论中进一步提出,如果任由长期资产管理公司破产,可能存在更大的道德风险。