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  3. In public, bankers have been blaming themselves for their troubles. Behind the scenes, they have been taking aim at someone else

In public, bankers have been blaming themselves for their troubles. Behind the scenes, they have been taking aim at someone else

admin2012-05-28  78
问题     In public, bankers have been blaming themselves for their troubles. Behind the scenes, they have been taking aim at someone else: the accounting standard-setters. Their rules, moan the banks, have forced them to report enormous losses, and it’s just not fair. These rules say they must value some assets at the price a third party would pay, not the price managers and regulators would like them to fetch.
    Unfortunately, banks’ lobbying now seems to be working. The details may be unknowable, but the independence of standard-setters, essential to the proper functioning of capital markets, is being compromised. And, unless banks carry toxic assets at prices that attract buyers, reviving the banking system will be difficult.
    On April 2nd, after a bruising encounter with Congress, America’s Financial Accounting Standards Board (FASB) rushed through rule changes. These gave banks more freedom to use models to value illiquid assets and more flexibility in recognising losses on long-term assets in their income statements. Bob Herz, the FASB’s chairman, openly condemned those who "question our motives". Yet bank shares rose and the changes enhance what one lobbying group politely calls "the use of judgment by management".
    European ministers instantly demanded that the International Accounting Standards Board (IASB) do likewise. The IASB says it does not want to act without overall planning, but the pressure to fold when it completes its reconstruction of rules later this year is strong. On April 1st Charlie McCreevy, a European commissioner, warned the IASB that it did "not live in a political vacuum" but "in the real world" and that Europe could yet develop different rules.
    It was banks that were on the wrong planet, with accounts that vastly overvalued assets. Today they argue that market prices overstate losses, because they largely reflect the temporary illiquidity of markets, not the likely extent of bad debts. The truth will not be known for years. But banks’ shares trade below their book value, suggesting that investors are sceptical. And dead markets partly reflect the paralysis of banks which will not sell assets for fear of booking losses, yet are reluctant to buy all those supposed bargains.
    To get the system working again, losses must be recognised and dealt with. America’s new plan to buy up toxic assets will not work unless banks mark assets to levels which buyers find attractive. Successful markets require independent and even combative standard-setters. The FASB and IASB have been exactly that, cleaning up rules on stock options and pensions, for example, against hostility from special interests. But by giving in to critics now they are inviting pressure to make more concessions.
Bankers complained that they were forced to______.
选项 A、cooperate with the price managers
B、collect payments from third parties
C、follow unfavorable asset evaluation rules
D、reevaluate some of their assets
答案C
解析 根据题干的complained和were forced将本题定位于首段最后两句。这两句提到，银行抱怨会计准则设立者设立的规则迫使银行不得不报道大量的损失，这不公平。这些规则要求，银行必须以第三方愿意支付的价格来估量某些资产，而非是经理和监管人员所期望该资产能够获得的价格。由此可知，银行家们抱怨自己被迫遵守了不利的规则，故答案为[C]，其中的asset evaluation对应原文中的value some as sets；unfavorable对应not fair。[B]是针对首段尾句设的干扰项，把原文中的value偷换为了collect。[A]中的cooperate与首段末句相反，且原文没有提到price manager，原文中的managers…fetch是修饰price的定语从句。文章没有强调要他们重新评估，故排除[D]。
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