不良资产救助计划

同样的方式可能也适用于不良资产救助计划拍卖会：克伦佩雷尔和来自斯坦福大学（stanford）的3位经济学家一直在研究其中的细节。

The same approach could work for a tarp auction , too ; Klemperer and three economists from Stanford have been working out the details .

然而，事后看来，就连备受憎恶的不良资产救助计划也非常有效。

Yet even the hated Tarp looks remarkably effective in hindsight .

为了对传言中的救助方案规模有个更清楚的概念，不妨看看美国的不良资产救助计划（TARP），后者获得通过时规模“只及”美国GDP的4.9%。

To put some context around the size of this rumored bailout package , TARP was " only " 4.9 % of US GDP at the time of passage .

保尔森称，即使在国会10月份批准7000亿美元不良资产救助计划（Tarp）之后，美国仍缺乏一些工具，如适用于非银行金融企业的充足的特殊破产制度。

He said that even after Congress in October approved the $ 700bn troubled asset relief program , the US still lacked tools such as an adequate special bankruptcy regime for non-bank financial firms .

关键问题是，所有这些都要花钱，而这笔资金都来自TARP，也就是去年通过对金融行业不良资产救助计划。

The thing is , all of that costs money and that 's where the TARP comes in . That 's the Troubled Asset Relief Program , the financial industry bailout passed last year .

具体元素是：向金融体系提供支持&通过继承上届政府的不良资产救助计划（Tarp）；针对银行机构的金融担保以及压力测试；财政刺激；以及美联储（Fed）保持信贷流动的措施。

The elements were : support for the financial system – through the troubled asset relief programme , inherited from the previous administration , financial guarantees and stress tests on banking institutions ; the fiscal stimulus ; and the actions of the Federal Reserve to sustain the flow of credit .

不良资产救助计划应用来实现这些目标。

The Troubled Asset Relief Programme should be used for these purposes .

美国将未花的不良资产救助计划资金用于增加就业。

US bailout money to be used to boost jobs .

比不良资产救助计划和新政的规模还要大

Bigger than tarp and the new deal

不良资产救助计划拍卖会的设计极其艰难，但似乎是可以解决的。

The tarp auction is a fiendishly difficult design problem , but it looks solvable .

你也许还记得吧？当初美国国际集团挪用不良资产救助计划资金，在奢侈酒店召开会议，因此备受指责。

Remember when AIG ( AIG ) was criticized for using TARP money to hold conferences at luxury hotels ?

反过来这将使得内阁在年末之后说服国会扩展不良资产救助计划变得更加容易。

That in turn will make it easier for the administration to persuade Congress to extend TARP beyond the end of the year .

国会预算办公室的一份研究表明，政府主要的紧急救助项目，即不良资产救助计划的开支为210亿美元。

A congressional budget office study now says the cost of the government 's main bailout program , the TARP , will amount to $ 21 billion .

然后，不良资产救助计划基金被抽调去给银行注资（可能是个好主意），接着是把一箱箱现金发给所有参与者（这个主意就不那么好了）。

The tarp fund was then cannibalised to recapitalise banks ( probably a good idea ) and then dole out suitcases of cash to all-comers ( a less good idea ) .