It's very hard to start an insurance company because you've got to meet the requirements of all fifty regulators.
开办保险公司是非常不容易的,因为你必须同时满足五十个州的监管要求
The discount rate was a policy variable set by the Fed and it was typically fifty basis points below the Federal Funds Rate.
贴现率是一个联邦可改变的政策,并且它比联邦资金利率通常,低五十个基本点。
I started by saying, "Could you come up with any kind of-- well,you tell me in fifty words or less what I said in lecture yesterday about harmony.
我是这样开头的,你们能够想起任何-,好吧,你们用五十个以内单词告诉我在昨天的课上我就和声问题说了些什么。
If you had five slaves and a good piece of land in Alabama in 1820, you might very likely have fifty slaves and a hell of a lot more land a decade later.
820年,如果你在阿拉巴马州,拥有五个奴隶和一块肥沃的土地,十年后你很可能就会拥有五十个奴隶,以及更多的土地
But of course, it has a lot of force because all fifty states have met-- the commissioners of fifty states have met and hashed it out.
当然,这种建议有它的力度,因为所有五十个州的保险业者,聚集在一起,反复推敲才得出建议
It's an effort to try to get the complexity of fifty different regulators uniform.
要让如此复杂的五十个不同的监管体系,统一起来是需要付出努力的
They were worried that if the discount rate is fifty basis points below the Federal Funds Rate then it's going to hit zero and that would be embarrassing; so they moved it.
他们担忧的是,如果贴现率比,联邦资金利率低五十个基本点,那么它将会接近零点,并且那将会很尴尬;所以他们改变了它。
This is something that's very important in the United States because, as I mentioned, insurance regulation is divided up over the fifty states and the problem that that creates is-- it's a nightmare for insurance companies because every different state has different laws.
在美国,这个协会是非常重要的,因为,就像我所提及的,保险监管被分散到了五十个州,这对任何一个保险公司而言,都是一个噩梦,因为各州法律各有不同
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