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We need to shrink them to the point,within the next five years,that they no longer pose a systemic risk.
在接下來的五年里，我們要給它們大幅瘦身，讓它們不再具有系統性風險。
Right now, they are ticking time bombs that will cause a global crisis as soon as the next one fails not if, when.
現在，它們就是定時炸彈，其中一個破產倒閉，就會引發全球性危機。而且問題還不是會不會倒，而是什么時候倒的問題。
Second thing we need to do is completely reform modern executive and professional compensation,which is what they use to suborn the appraisers.
第二，我們要徹底改革當前的高管人員薪酬制度，這也是他們用來脅迫估價師的工具和手段。
Remember, they were pressuring the appraisers through the compensation system, trying to produce what we call a Gresham's dynamic,in which bad ethics drives good ethics out of the marketplace.
想想看，他們在通過薪酬體系向估價師施壓，造成劣幣驅逐良幣的格雷欣效應，市場上道德節操無人問津。
And they largely succeeded, which is how the fraud became endemic.
很大程度上，他們得逞了。這就是為什么欺詐行為如此猖獗。
And the third thing that we need to do is deal with what we call the three D's:
第三，我們要解決三無問題：無規章制度、無有效監管
deregulation, desupervision, and the de facto decriminalization.
出事后，無人擔責被繩之以法的問題。
Because we can make all three of these changes, and if we do so,we can dramatically reduce how often we have a crisis and how severe those crises are.
因為我們可以從這三方面進行改革，只要我們這樣做，就能大幅降低危機發生的頻率和危機發生后的危害程度。
That is not simply critical to our economy.
這不僅事關我們的經濟。
You can see what these crises do to inequality and what they do to our democracy.
看看這些危機對貧富差距的影響，對我們的民主制度的破壞。
They have produced crony capitalism, American-style,in which the largest financial institutions are the leading financial donors of both parties,and that's the reason why even after this crisis,70 times larger than the savings and loan crisis, we have no meaningful reforms in any of the three areas that I've talked about,other than banning liar's loans,which is good,but that's just one form of ammunition for this fraud weapon.
危機產生了裙帶資本主義，有美國特色的裙帶資本主義，最大的金融機構是兩黨的最大金主。這就是為什么這場比儲貸危機嚴重70倍的危機發生之后，在我提到的三個方面依然沒有任何實質性的改革。除了欺騙性貸款被取締，這當然是好事但欺騙性貸款只是他們手中的一種武器。
There are many forms of ammunition they can use.
他們可用的武器還很多。
That's why we need to learn what the bankers have learned:
這就是為什么我們需要求教銀行家的地方：
the recipe for the best way to rob a bank,so that we can stop that recipe,because our legislators,who are dependent on political contributions, will not do it on their own.
搶銀行的最佳秘方，這樣我們才能除掉它。因為我們的國會議員離不開政治獻金，所以他們不會主動來做這一切。
Thank you very much.
謝謝，多謝。
