注册 登录  
 加关注
   显示下一条  |  关闭
温馨提示!由于新浪微博认证机制调整,您的新浪微博帐号绑定已过期,请重新绑定!立即重新绑定新浪微博》  |  关闭

巴曙松的博客

国务院发展研究中心金融研究所副所长

 
 
 

日志

 
 
关于我

巴曙松教授,博士,国务院发展研究中心金融研究所副所长,研究员,博士生导师,享受国务院特殊津贴。    巴曙松教授在银行、证券、基金、企业年金等领域有过10余年的实践工作经验,熟悉商业银行风险管理、基金与年金运作,参与中银香港海外重组上市项目,主持起草了《中银香港风险管理政策与流程》。目前的主要研究领域为金融机构风险管理与金融市场监管、企业融资问题与货币政策决策,出版了国内第一本系统研究巴塞尔新资本协议的《巴塞尔新资本协议研究》(中国金融出版社2003年版)

网易考拉推荐

索罗斯:虽然此轮危机造成的对金融业的打击的最困难事情可能已经过去,但由此  

2008-05-19 17:52:03|  分类: 信息汇总 |  标签: |举报 |字号 订阅

  下载LOFTER 我的照片书  |
……
 

Soros SaysImpact of Crisis on Economy Just Starting(Update3)

2008-05-07 17:52 (New York)

 

    (Adds Soros comments on interest rates and U.S. dollar

starting in the fifth paragraph.)

 

By IanKatz

    May 7 (Bloomberg) -- Billionaire investor George Sorossaid

the``acute phase'' of the financialcrisis is ``largely behind us'' even as the U.S. economy is only now startingto feel the effect.

    The damage done to the globalfinancial system ``has toaffect, in my opinion, the real economy,'' Soros, 77, saidin a question-and-answer session in Washington today.``The effect of that is onlybeginning to be felt. There is a certain timelag.''

    Just as housing prices ``overshot on the upside,'' they willovershoot on the way down, Soros said. The U.S. is in the ``verybeginning of an uptrend'' in foreclosures, he said at anevent hosted by the Council on Foreign Relations. With home prices declining, ``to expect thatby the end of the year you will have passed through that'' isunrealistic, he said.

    The world's biggest banks and securities firms have reported creditlosses and writedowns of about $319 billion after the collapse ofthe U.S. subprime mortgage market, according to Bloombergdata.

    The U.S. dollar ``would certainly come under renewed pressure'' ifthe Federal Reserve were to further reduce interest rates, Sorossaid. The Fed cut its benchmark interest rate by aquarter-percentage point to 2 percent on April 30.

    ``The fact that they stopped at 2 percent is now giving the dollara breathing space,'' Soros said. ``So the dollar has stabilized asa result.''

 

                         Sovereign Funds

 

    Sovereign wealth funds have been a ``positive factor'' instabilizing U.S. financial companies, Soros said. Certain standardsneed to be set for the funds because they could come underpolitical influence, he said.

    The funds, owned and controlled by foreign governments, have boughtstakes in financial institutions including Citigroup Inc., MerrillLynch & Co., UBS AG and Morgan Stanley, after the bankssuffered losses on securities linked to subprime mortgages. Thefunds' assets may increase fourfold to $12 trillion by2015,

according to Morgan Stanley estimates.

    U.S. stocks are in ``a bear-market rally,'' Sorossaid. The Dow Jones Industrial Average has risen 10 percentsince March 10.

    Soros criticized what he called``market fundamentalism,'' the idea that markets work themselvesout. ``Markets don't tend toward equilibrium,'' he said. ``Theyactually go to excesses.''

                           Commodities

 

    Soros also reiterated his view that there is a ``bubble element''to global commodity prices. Commodities are in their seventh yearof gains, with crude oil rising to a record above $123 a barreltoday.

    Last year, Soros returned to a more active role in managing the $17billion Quantum Endowment Fund, whose profits pay for hisphilanthropic projects, because of concerns about market declinesthat started with rising subprime-mortgage defaults.

    Soros earned an estimated $2.9 billion last year, ranking secondafter John Paulson, founder of New York-based Paulson &Co.,according to Institutional Investor's Alpha Magazine.Paulson waspaid an estimated $3.7 billion, the magazine said.
追悼地震中遇难的同胞

  评论这张
 
阅读(233)| 评论(1)
推荐 转载

历史上的今天

评论

<#--最新日志,群博日志--> <#--推荐日志--> <#--引用记录--> <#--博主推荐--> <#--随机阅读--> <#--首页推荐--> <#--历史上的今天--> <#--被推荐日志--> <#--上一篇,下一篇--> <#-- 热度 --> <#-- 网易新闻广告 --> <#--右边模块结构--> <#--评论模块结构--> <#--引用模块结构--> <#--博主发起的投票-->
 
 
 
 
 
 
 
 
 
 
 
 
 
 

页脚

网易公司版权所有 ©1997-2017