翻译练习Global Finance: The Real Revolution On Wall Street（结束）

金融升级

Although that is not an option in America, the regulators toolkit does need to be updated. It must be made clear that speculators, amateur and professional, will still bear losses, even if they attract sympathy from politicians. Irrationality thrives in online politics because it imposes no direct cost. By contrast, in markets losses act as a disciplining force. If today's frothiest assets collapse, the bill could be perhaps $2trn: painful but not catastrophic in a stockmarket worth $44trn.

尽管美国不会像中国那样大规模监管股市，但是监管机构的工具箱的确需要进行升级。必须明确的是，无论是投机商人，业余爱好者还是专业人士，即便他们引起了政府的同情，他们仍然会蒙受损失。在线政治的非理性繁荣是因为它不用负任何直接责任。与此相对，市场的亏损则是一种惩罚措施。如果今天的泡沫资产崩溃，损失将达到2万亿美元：在一个价值44万亿美元的股市中，这是痛苦的，但并非灾难。

Don't forget season two

别忘了，还有第二季

散户能赢

Insider-dealing and manipulation rules also need to be modernised to deal with new information flows. Stupidity, greed and a killer instinct are all perfectly acceptable: deception, including the spread of misinformation, is not. Price-sensitive data need to be kept widely available. And the plumbing must be renovated. America's trade-settlement system works with a two-day delay, creating a timing mismatch that can lead to cash shortfalls. It needs to be able to cope with faster trading in an expanding range of assets so that the system can withstand a crash. Netflix's TV drama will doubltless pitch daytrading heroes like Roaring Kitty against the wicked professionals on Wall Street. Off-screen, in the real revolution in finance, a far bigger cast can win.

内部交易与操纵规则同样需要现代化，以应对新的信息流。愚蠢、贪婪与嗜血本能完全可以接受，而欺骗，包括散布错误信息，则不能被接受。应该确保人们很容易能获得价格敏感数据。传输管道必须革新。美国的贸易结算系统有两天的工作延迟，由此产生的时间错配会导致现金短缺。该系统必须要能在不断扩大的资产范围内更快地处理交易，以便系统能应对崩盘。网飞电影剧毫无疑问会安排像罗林・凯特这样的日内交易英雄来对抗邪恶的华尔街专家。在银幕之外，真正的金融革命中，赢家不止一个，可以更多。