pbs高端访谈:摩根交易损失多达10亿 前执行长引咎辞职

 　　JUDY WOODRUFF:Finally tonight: The U.S. Senate turned its attention to huge trading losses at J.P. Morgan Chase, the country's largest bank.

　　Ray Suarez has the story.

　　INA DREW, Former J.P. Morgan Chase Executive: The fact that these mistakes happened on my watch has been the most disappointing and painful part of my professional career.

　　RAY SUAREZ:Former J.P. Morgan Chase executive Ina Drew testified at a Senate hearing today, speaking publicly for the first time since she resigned 10 months ago. Drew was the bank's chief investment officer. She oversaw¹ the British unit that ran the so-called London Whales trades, involving risky² derivatives³, which lost $6 billion.

　　Today, she said her oversight⁴ was reasonable and diligent⁵, but she insisted she was lied to by subordinates.

　　INA DREW:Some members of the London team failed to value positions properly and in good faith. They minimized reported and projected losses and hid from me important information regarding the true risks of the book.

　　RAY SUAREZ:CEO Jamie Dimon initially⁶ dismissed reports of major losses. Later, the bank said the figure was $2 billion dollars, a sum that ultimately tripled. The Senate launched an investigation⁷ last July, and yesterday released a report of more than 300 pages. It blamed Drew and others for high-risk activities and troubling misconduct.

　　Michigan Senator Carl Levin fleshed that out at the hearing.

　　SEN. CARL LEVIN, D-Mich.: It exposes a derivatives trading culture at J.P. Morgan that piled on risk, that hid losses, that disregarded risk limits, that manipulated risk models, that dodged⁸ oversight and that misinformed the public.

　　RAY SUAREZ:In a statement, J.P. Morgan Chase said it has acknowledged mistakes, but denies hiding any losses.

　　For more on all this, I am joined by Dawn Kopecki of Bloomberg News. She's been covering this story for months and was at the hearing today.

　　So, for someone who is as read in as you are, Dawn, did the Senate report and the testimony⁹ fill in some of the blanks of the J.P. Morgan saga¹⁰?

　　DAWN KOPECKI,Bloomberg News: Yes, absolutely.

　　J.P. Morgan came out with their own report a couple months ago and that was like 60 pages, weren't a whole lot of details. Today's report shows some pretty damaging evidence about the fact that top executives knew that these—that this portfolio¹¹ was breaching¹² risk limits, that they tried to game the risk limits by changing the models used to determine what the limits would be.

　　It shows that Dimon had knowledge and was actually trying to withhold¹³ information from regulators. It shows a very combative¹⁴ tone with J.P. Morgan and its primary regulator. There was quite a bit in the Levin report and in the hearing today that lawyers are going to be looking and sifting¹⁵ through for months and months and maybe even years.

　　RAY SUAREZ:And, of course, someone that's been wanted to be heard from for a long time in the person is Ina Drew.

　　DAWN KOPECKI:Yes.

　　RAY SUAREZ:Did she bring out anything new in her testimony?

　　DAWN KOPECKI:She deflected¹⁷ all blame from herself. It's really interesting, because these executives make a lot of money because they are—you know, they are paid to know what is going on in these institutions. And she said that she wasn't aware of the deceptive¹⁸ contest of her subordinates until after she left the company.

　　I find that a little bit hard to believe, considering that she was in the meetings with them working on trying to redo these risk measures, trying to make sure that they weren't triggering certain breaches¹⁹ that would—that would, you know, justify²⁰ some sort of internal review.

　　She was there with them. She knew what some of the losses were early on. That came out in the Levin report. But she said at the hearing today that she had no knowledge of how bad it was until after she left.

　　RAY SUAREZ:She was sitting at a witness table with many of the senior officers, past and present, in the J.P. Morgan empire.

　　DAWN KOPECKI:Yes.

　　RAY SUAREZ:Were they in essence blaming each other, sitting at the table blaming each other for what had happened?

　　DAWN KOPECKI:There was a lot of blame going around.

　　They were also mostly blaming the people who have left. They just absolutely threw the three traders and managers in London completely under the bus, the three who couldn't or didn't or wouldn't speak today. Extradition²¹ doesn't apply to the Senate committee today, so they weren't able to subpoena²² them and bring them over to the U.S. to testify.

　　But it was Bruno Iksil, who is nicknamed the London Whale, his manager, Javier Martin-Artajo, and Achilles Macris. And there was a lot of blame going on, a lot of blame throwing them under the bus.

　　RAY SUAREZ:More than just inadvisable strategies, more than just mistakes, does this expose something more serious, criminality, laws that may have been broken in both countries?

　　DAWN KOPECKI:There's a lot of analysis going on about that.

　　There are some suggestions that there could some criminal transgressions²³ going on here. The traders were mismarking their books. The—Doug Braunstein and Mike Cavanagh, who are still executives at the company, were trying to parse²⁴ those—parse that issue, because they really want to deflect¹⁶ any kind of criminal charges or wrongdoing from the company themselves.

　　But other attorneys we have spoken to said that they might.

　　RAY SUAREZ:And could the material in the Senate report and in fact some of the testimony taken today be used against these people in some downstream legal action?

　　DAWN KOPECKI:Absolutely.

　　And that was the key goal of defense²⁵ attorneys today, was to keep that from happening. But it was very tough hearing. Doug Braunstein came out. The problem was, he came out in April after he knew that a lot of these risk measures were breached²⁶, after he knew that the losses were in the billions of dollars, and told everyone that they were comfortable with the book, that everything was OK.

　　This was after Achilles Macris told them that they were in crisis mode in London. You know that your London unit is in crisis mode, and yet you tell investors²⁷ that everything is OK. Jamie Dimon told investors it was a tempest in a teapot. That is what's going to be troublesome, this April 13thanalyst conference call and a call with reporters where they assured everyone that it wasn't a big deal and everything was fine, when they knew for months that the losses were growing, when they knew they had violated the breaches of risk limits.

　　RAY SUAREZ:Dawn Kopecki from Bloomberg News, thanks a lot.

　　DAWN KOPECKI:Thank you.

1 oversaw   

v.监督，监视( oversee的过去式 )

参考例句：

• He will go down as the president who oversaw two historic transitions. 他将作为见证了巴西两次历史性转变的总统，安然引退。 来自互联网
• Dixon oversaw the project as creative director of Design Research Studio. 狄克逊监督项目的创意总监设计研究工作室。 来自互联网

2 risky   

adj.有风险的，冒险的

参考例句：

• It may be risky but we will chance it anyhow.这可能有危险，但我们无论如何要冒一冒险。
• He is well aware how risky this investment is.他心里对这项投资的风险十分清楚。

3 derivatives   

n.衍生性金融商品；派生物，引出物( derivative的名词复数 )；导数

参考例句：

• Many English words are derivatives of Latin words. 许多英语词来自拉丁语。 来自《简明英汉词典》
• These compounds are nitrosohydroxylamine derivatives. 这类合成物是亚硝基羟胺衍生物。 来自辞典例句

4 oversight   

n.勘漏，失察，疏忽

参考例句：

• I consider this a gross oversight on your part.我把这件事看作是你的一大疏忽。
• Your essay was not marked through an oversight on my part.由于我的疏忽你的文章没有打分。

5 diligent   

adj.勤勉的，勤奋的

参考例句：

• He is the more diligent of the two boys.他是这两个男孩中较用功的一个。
• She is diligent and keeps herself busy all the time.她真勤快，一会儿也不闲着。

6 initially   

adv.最初，开始

参考例句：

• The ban was initially opposed by the US.这一禁令首先遭到美国的反对。
• Feathers initially developed from insect scales.羽毛最初由昆虫的翅瓣演化而来。

7 investigation   

n.调查，调查研究

参考例句：

• In an investigation,a new fact became known, which told against him.在调查中新发现了一件对他不利的事实。
• He drew the conclusion by building on his own investigation.他根据自己的调查研究作出结论。

8 dodged   

v.闪躲( dodge的过去式和过去分词 )；回避

参考例句：

• He dodged cleverly when she threw her sabot at him. 她用木底鞋砸向他时，他机敏地闪开了。 来自《简明英汉词典》
• He dodged the book that I threw at him. 他躲开了我扔向他的书。 来自《简明英汉词典》

9 testimony   

n.证词；见证，证明

参考例句：

• The testimony given by him is dubious.他所作的证据是可疑的。
• He was called in to bear testimony to what the police officer said.他被传入为警官所说的话作证。

10 saga   

n.(尤指中世纪北欧海盗的)故事，英雄传奇

参考例句：

• The saga of Flight 19 is probably the most repeated story about the Bermuda Triangle.飞行19中队的传说或许是有关百慕大三角最重复的故事。
• The novel depicts the saga of a family.小说描绘了一个家族的传奇故事。

11 portfolio   

n.公事包；文件夹；大臣及部长职位

参考例句：

• He remembered her because she was carrying a large portfolio.他因为她带着一个大公文包而记住了她。
• He resigned his portfolio.他辞去了大臣职务。

12 breaching   

攻破( breach的过去式 )； 破坏，违反

参考例句：

• The company was prosecuted for breaching the Health and Safety Act. 这家公司被控违反《卫生安全条例》。
• Third, an agency can abuse its discretion by breaching certain principles of judge-made law. 第三，行政机关会因违反某些法官制定的法律原则而构成滥用自由裁量权。

13 withhold   

v.拒绝，不给；使停止，阻挡

参考例句：

• It was unscrupulous of their lawyer to withhold evidence.他们的律师隐瞒证据是不道德的。
• I couldn't withhold giving some loose to my indignation.我忍不住要发泄一点我的愤怒。

14 combative   

adj.好战的；好斗的

参考例句：

• Mr. Obama has recently adopted a more combative tone.奥巴马总统近来采取了一种更有战斗性的语调。
• She believes that women are at least as combative as are.她相信女性至少和男性一样好斗。

15 sifting   

n.筛，过滤v.筛( sift的现在分词 )；筛滤；细查；详审

参考例句：

• He lay on the beach, sifting the sand through his fingers. 他躺在沙滩上用手筛砂子玩。 来自《简明英汉词典》
• I was sifting the cinders when she came in. 她进来时，我正在筛煤渣。 来自辞典例句

16 deflect   

v.(使)偏斜，(使)偏离，(使)转向

参考例句：

• Never let a little problem deflect you.决不要因一点小问题就半途而废。
• They decided to deflect from the original plan.他们决定改变原计划。

17 deflected   

偏离的

参考例句：

• The ball deflected off Reid's body into the goal. 球打在里德身上反弹进球门。
• Most of its particles are deflected. 此物质的料子大多是偏斜的。

18 deceptive   

adj.骗人的，造成假象的，靠不住的

参考例句：

• His appearance was deceptive.他的外表带有欺骗性。
• The storyline is deceptively simple.故事情节看似简单，其实不然。

19 breaches   

破坏( breach的名词复数 )； 破裂； 缺口； 违背

参考例句：

• He imposed heavy penalties for breaches of oath or pledges. 他对违反誓言和保证的行为给予严厉的惩罚。
• This renders all breaches of morality before marriage very uncommon. 这样一来，婚前败坏道德的事就少见了。

20 justify   

vt.证明…正当(或有理)，为…辩护

参考例句：

• He tried to justify his absence with lame excuses.他想用站不住脚的借口为自己的缺席辩解。
• Can you justify your rude behavior to me?你能向我证明你的粗野行为是有道理的吗？

21 extradition   

n.引渡（逃犯）

参考例句：

• The smuggler is in prison tonight,awaiting extradition to Britain.这名走私犯今晚在监狱，等待引渡到英国。
• He began to trouble concerning the extradition laws.他开始费尽心思地去想关于引渡法的问题。

22 subpoena   

n.（法律）传票；v.传讯

参考例句：

• He was brought up to court with a subpoena.他接到传讯，来到法庭上。
• Select committees have the power to subpoena witnesses.特别委员会有权传唤证人。

23 transgressions   

n.违反，违法，罪过( transgression的名词复数 )

参考例句：

• Many marine transgressions occur across coastal plains. 许多海运是横越滨海平原。 来自辞典例句
• For I know my transgressions, and my sin always before me. 因为我知道我的过犯，我的罪常在我面前。 来自互联网

24 parse   

v.从语法上分析；n.从语法上分析

参考例句：

• I simply couldn't parse what you just said.我完全无法对你刚说的话作语法分析。
• It causes the parser to parse an NP.它调用分析程序分析一个名词短语。

25 defense   

n.防御，保卫；[pl.]防务工事；辩护，答辩

参考例句：

• The accused has the right to defense.被告人有权获得辩护。
• The war has impacted the area with military and defense workers.战争使那个地区挤满了军队和防御工程人员。

26 breached   

攻破( breach的现在分词 )； 破坏，违反

参考例句：

• These commitments have already been breached. 这些承诺已遭背弃。
• Our tanks have breached the enemy defences. 我方坦克车突破了敌人的防线。

27 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会