Prava bomba Fedovega guvernerja Kashkarija ali trojanski konj Wall Streeta?

S prvim uradnim govorom po prevzemu funkcije je Neel Kashkari, novi predsednik minnesotske podružnice Fed (zamenjal je Narayano Kocherlakoto), vrgel pravo politično bombo. Povedal je, (1) da so mnoge ameriške banke prevelike (too big to fail), da predstavljajo preveliko sistemsko tveganje in da bi jih bilo treba razbiti, (2) da bi jih bilo treba upravljati kot javna podjetja in od njih zahtevati tako velike rezerve, da ne bi mogle propasti (“upravljanje kot nuklearne elektrarne“), in (3) da bi bilo finančne vzvode potrebno obdavčiti skozi celoten finančni sistem, da bi tako zmanjšali sistemska tveganja.

Zadeva niti ne bi bila tako presenetljiva, če Kashkari ne bi prej bil zaposlen v Goldman Sachsu in če ne bi veljal kot ortodoksen republikanec. In sicer tisti, ki je bil v Paulsonovem kabinetu (finančnem ministru v Bushevi administraciji) zadolžen za pripravo programa reševanja (velikih) bank. Ali kot republikanski kandidat za senatorja Californije. Takoj, ko se je lani jeseni razvedelo, da bo Kashkari novi predsednik minnesotske Fed, so se ga lotili secirati liberalni in progresivni ekonomisti, tudi Paul Krugman. No, s tem govorom je vse presentil, saj gre resnici na ljubo za govor, ki bi ga pričakovali denimo od Bernieja Sandersa ali Elizabeth Warren, le da je še bolj radikalen.

Lahko si pa predstavljate, kakšne reakcije je njegov govoril sprožil na Wall Streetu. Da gre za najbolj ekstremno levo orientiranega Fedovega guvernerja, da jih vse preslepil v zadnjih sedmih letih z ustvarjanjem slike, da je on tisti, ki je rešil Wall Street, da je zdaj najbrž prvi kandidat Sandersa za mesto finančnega ministra itd. Nekaj komentarjev spodaj (vir: Politico):

Via one banking industry source: “The speech is notable not only for its radical proposal to convert banks to utilities but also for its failure to note, much less engage, any of the post-crisis reforms in this area — e.g., TLAC, the ISDA protocol on derivatives, central clearing — and the resulting absence of any TBTF benefit in debt pricing or credit ratings. But one thing is for sure: he’s now on Bernie Sanders’s short list for Treasury Secretary.”

Another banker emails: “Kashkari has managed to get to the left of [Fed governor] Dan Tarullo. He’s turned Tarullo into Hillary Clinton to his Bernie Sanders.”

And one more: “To the extent that banks were surprised it was more by how blatantly political Neel has become. He’s spent the last seven years promoting himself as the guy who saved Wall Street, two years running for the US Senate and never once suggesting that this was his policy view. Makes you wonder if he’s trying to move to the left of Al Franken for the next Democratic Senate primary in Minnesota.”

And on the record … John Dearie, Acting CEO of the Financial Services Forum: “The largest financial institutions are smaller and less complex with twice the capital and triple the liquidity since Mr. Kashkari left government to enter politics. The Fed’s stress tests show that large financial institutions can withstand a crisis far worse than 2008, and the largest banks have ‘living wills’ to guide an orderly wind-down without putting taxpayer money at risk. … Of the ten largest global financial institutions, only a few are U.S. based”

THE LEFT LOVES IT — Bernie Sanders: “I am delighted that the new president of the Minneapolis Federal Reserve believes that we need to break up too big to fail banks. If a bank is too big to fail, it is too big to exist. When it comes to Wall Street reform that must be our bottom line. The risk of another bailout is too great, and the economic and political power of a handful of huge financial institutions is simply too large.”

Kashkari je obljubil nov, “fundamentalni” program prestrukturiranja finančnega sektorja in njegove regulacije do konca leta. Zanimivo bo videti že videno zgodbo, kako bodo pod vplivom lastnikov Feda (velikih bank) Kashkarijeve ideje počasi razvodenele. Wall Street seveda ne more izgubiti. Za seboj ima tiskarno, ki ji ne more zmanjkati municije, zadnjih nekaj desetletij pa ima vedno tudi svojega finančnega ministra – ne glede na politično barvo vlade.

In prav slednjega ne bi pa smeli zanemariti. Če je Kashkariju uspelo preslepiti republikance s svojim zavzemanjem za interese Wall Streeta, ni izključeno, da gre tudi pri njegovem nastopnem govoru zgolj za igro. Da se hoče prikupiti radikalnemu krilu demokratov, ker želi Wall Street izključiti presenečenja tudi v primeru, če bi na predsedniških volitvah zmagal “socialist” Sanders. Morda Wall Street zgolj lansira svojega trojanskega konja Bernieju Sandersu.

%d bloggers like this: