In the international financial crisis after the first anniversary, as markets pick up and to restore profitability of enterprises, the United States in the financial industry is gradually out of the crisis, after entering the "Wall Street" era.
Over the past year, in the United States Government's strong intervention to Wall Street as the representative of the United States financial services industry has undergone tremendous change. In investment banking, last September, the bankruptcy of Lehman Brothers Inc. domino effect causing major Wall Street investment banks in two weeks or acquisitions, or to a bank holding company. The crisis was over, the United States financial institutions have begun strengthening risk control, implementation of deleveraging. With the disappearance of some competitors, in investment banking areas, Goldman Sachs Group leader for further expansion.
At the same time, the United States original sorting of several large banks have changed dramatically. In the financial crisis suffered the impact of smaller mogendatongyinxing successively acquired Bear Stearns, Merrill and became the United States after the most powerful commercial banks. United States Bank and Wells Fargo in the United States, respectively, of the acquisition of national financial Corporation, Wachovia Bank mortgage market after the United States become the most important of the two financial institutions. Citigroup since the financial crisis, has been removed from the global market value of the first location drop down, split its business, restructuring is in progress.
In response to the hundred years of financial crisis, the United States Government on financial sector interventions also reached an unprecedented scale. Although the Government intervention debate never stopped, but the United States Government in market mechanisms shock State decisive approach to a large extent, mitigated the crisis on the global impact of the financial system. Used to be the world's largest insurance companies of American International Group, and the two mortgage companies Fannie Mae and premises beauty has been United States Government, the United States Government on Citigroup rescue eventually evolved into the Government become Citigroup's largest shareholders ... How the Government from these financial institutions accountable to the taxpayers to quit, or unknown. However, the resulting "moral hazard", and how to resolve large financial institutions because they are too big to fail, will the White House's most vexing problems.
From the already announced for the second quarter of this year, La, United States financial enterprises have go out of the crisis, the worst phase, both with the adjustment of the accounting rules, also benefit from the market and market confidence in warmer. As real estate prices rebound, the United States financial system "toxic assets" may be translated into the carrying on of profit, but in view of the United States real estate still at risk, as well as continuing high unemployment leads to increased credit card bad debt loan business, and financial institutions related to the performance of the overall recovery also requires time.
How to balance the relationship between regulation and innovation is the United States financial services industry is currently facing one of the most pressing issues. Wall Street financial crisis has exposed the United States financial regulatory system vulnerabilities, world financial history's largest "pangshi" scam McDonnell Douglas Fu case exposure for investors on Wall Street and regulators of trust. In order to prevent a recurrence of financial crisis again, the Obama administration plans to strengthen financial supervision, the expansion of the United States Federal Reserve Board's power to protect the interests of investors and strengthening information disclosure. However, as warmer, from financial markets in the financial industry and the Government's internal opposition is also increasing, in Government and financial business game, how to balance control and innovation in the United States, the maintenance of the global financial industry leader, will test the Obama administration.
Through this "financial tsunami", the United States in the financial sector is in repair, reforming process, this process is dependent on financial enterprises themselves, also rely on the real economy recovery support. In the Fed quantitative easing monetary policy in the background, how to address the liquidity surplus and the threat of inflation, would be the United States and the evolution of the financial industry to the next point.
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