I.H.3.Warren Buffett.FDIC

Refer To：《2020-05-02 Berkshire Hathaway Annual Meeting》。

10. FDIC: “A very, very, very good thing”

FDIC：“非常非常非常好的事情”

WARREN BUFFETT: One of the things, as I look back on that period is — and I don’t think economists, generally, like to give it that much of a point of importance, but — but if we’d had the FDIC 10 years earlier, we’d — the FDIC started on January 1st, 1934 — it was part of the sweeping legislation that took place when (President Franklin) Roosevelt came in — but if we’d had the FDIC, we would have had a much, much different experience, I believe, in the — in the Great Depression.

沃伦·巴菲特：回顾那段时期，我认为经济学家通常不太愿意强调这一点，但如果我们在十年前就有联邦存款保险公司（FDIC），我们——FDIC 于 1934 年 1 月 1 日成立——这是罗斯福总统上任时进行的一系列广泛立法的一部分——但如果我们有 FDIC，我相信我们在大萧条期间的经历会截然不同。

People blame it on smooth — Smoot-Hawley. I mean, they — there’s all kinds of things — and the margin requirements in ’29 — and all of those things entered into creating a recession.

人们把它归咎于斯穆特-霍利。我是说，他们——有各种各样的因素——还有 1929 年的保证金要求——所有这些因素都导致了经济衰退。

But if you have over 4000 banks fail, that’s 4000 local experiences where people save and save and save, put their money away and then someday, they reach for it and it’s gone.

但是如果有超过 4000 家银行倒闭，那就是 4000 个地方的经历，人们不断存钱，把钱存起来，然后有一天，他们想取钱，却发现钱不见了。

And that happens, you know, in all 48 states. And it happens to your neighbors and it happens to your relatives. It — it has to have an effect on the psyche that’s incredible.

这在所有 48 个州都发生。它发生在你的邻居身上，也发生在你的亲戚身上。这——这必然对心理产生难以置信的影响。

So, one very, very, very good thing that came out of the depression, in my view, is the FDIC. And it would have been a somewhat different world, I’m sure, if the bank failures hadn’t just rolled across this country and — and with people that thought that they were savers find out that they had nothing when they went there and there was a sign that said “Closed.”

所以，在我看来，经济大萧条带来的一个非常非常好的结果就是联邦存款保险公司（FDIC）。我相信，如果银行倒闭没有在这个国家蔓延，世界会有所不同——那些认为自己是储户的人发现，当他们去银行时，看到的却是“关闭”的标志，结果一无所有。

Incidentally, the FDIC — I think very few people know this — but — or at least they don’t appreciate it — but the FDIC does not cost the American taxpayer a dime. I mean, its expenses have been paid, its losses have been paid, all through assessments on banks. It’s been a mutual insurance company of the banks, backed by the federal government, and associated with the federal government.

顺便提一下，联邦存款保险公司（FDIC）——我想很少有人知道这一点，或者至少他们没有意识到这一点——但FDIC没有花费美国纳税人一分钱。它的开支和损失都是通过对银行的评估支付的。这实际上是一个由银行组成的互助保险公司，由联邦政府支持并与其相关联。

跟最早的火灾保险一样。

But now it holds a hundred billion dollars and that consists of premiums that were paid in, and investment income on the premiums, less the expenses and paying of all the losses. And think of the incredible amount of peace of mind that’s given to people that were not similarly situated in — when the Great Depression hit.

但现在它拥有一千亿美元，这包括已支付的保费和保费的投资收入，减去费用和所有损失的支付。想想在大萧条时期，那些处境不佳的人们所获得的巨大安心感。

I.H.3.Warren Buffett.FDIC

I.H.3.Warren Buffett.FDIC

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