Nick Leeson, the “rogue trader” who brought down Barings Bank, served just four years of a six-and-a-half-year sentence.

搞垮巴林银行（Barings Bank）的“股坛狙击手”尼克•李森(Nick Leeson)仅服刑6年半。

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Before that, he was an executive director at Barings, the venerable British investment bank that collapsed in 1995 after a rogue-trader scandal, and at the International Monetary Fund.

在这之前，他曾经任霸菱银行执行董事，而这家颇受尊敬的英国投资银行在1995年破产，起因于一次流氓交易员丑闻。之后他任职于国际货币基金组织。

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When Barings, another British bank, was wiped out by trading losses 11 years later, regulators let it fail, judging that the risk of wider damage was low.

对于另一家英国的巴林银行，1995年因交易损失被宣告破产，监管机构这么做是因为断定有更大潜在损失的风险比较低。

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One attribute, financial conservatism , is simple enough (speculation can bring in quick profits, but it seldom promotes longevity as Barings bank can attest).

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By the mid-1990s, after the bankrupt Barings bank deserted its bondholders, he declared that the City could no longer claim the moral high ground.

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As a matter of fact, whether you analyse the cases of Enron, the old Barings Bank, Lehman or the Royal Bank of Scotland, similar conclusions would be drawn.

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