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  3. Financial engineers don’t wear white lab coats. They don’t experiment on rats. Their raw material — money — isn’t as showy as wh

Financial engineers don’t wear white lab coats. They don’t experiment on rats. Their raw material — money — isn’t as showy as wh

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问题     Financial engineers don’t wear white lab coats. They don’t experiment on rats. Their raw material — money — isn’t as showy as what biologists and physicists investigate. But the innovations they produce will contribute just as much to economic growth.

    Maybe more, in fact, because without the science of finance, all other sciences are just a bunch of neat concepts. Ideas begin to contribute to human betterment when they are financed—by venture capital, stock offerings, loans, or buyouts. A smoothly operating financial system showers money on good ideas. Equally important, it cuts off funding to tired ideas and tired companies, so their assets can be employed more efficiently elsewhere.
    In the 21st century economy, innovation in finance will increase in concert with the increase in competition. Partly because of deregulation and globalization, competition should get tougher, and margin thinner. As products such as home mortgage loans become commoditized, financial-service companies will be forced to get more creative.
    Financial technology will keep feeding off information technology. The secret to success will be a strong software platform, which will lower the cost of general services while making it possible to create high-margin variations as well. A few companies that get it right can spin away from the rest and become stronger and stronger.
    In the new worth of finance, size counts. Big companies enjoy economies of scale and name recognition, and they can be safer because their bets are spread across more regions and market segments. The value of U. S. bank mergers in the first half of 1998 was greater than that of the three previous years combined. The mergers are occurring across industries as well.
    At the other extreme will be specialists that survive by doing one thing either very cheaply or exceptionally well. By offering lower prices or better service, specialists will discipline the financial supermarkets; the big guys know their customers can walk away if they get a raw deal. " There is no way we are going to maximize a short-term transactional benefit at the risk of destroying a long-term relationship," says Chase Manhattan Corp. Vice-Chairman Joseph G. Sponhols.
    Predictably, the biggest winners from financial innovation will be companies, and families that have complex finances. Banks already show signs of losing interest in people who want just plain checking accounts.
    But as income and wealth rise, more people will find themselves thrust into the role of asset managers. Businesses, too, will have to become more sophisticated — if only to keep pace with financially innovative rivals.
The startling growth of bank mergers indicates that______.
选项 A、scale is of vital importance to the survival of those non-specialists of finance
B、financial-service companies need to turn out more creative products
C、demand for investment of capital is becoming greater and greater
D、big companies want to risk their money on more than one result
答案A
解析 推理判断题。第五段说企业规模很重要。大企业向往经济规模大、知名度高，而且由于他们投资领域广、市场占有量大，这样他们就更安全。由此我们可以推断出银行合并是为了达到一定的规模，从而确保安全。故[A]项表述正确。
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