G7救助银行的亚洲选择

谚语说越挫越勇。然而,在最近的G7峰会之后,尽管有美国和欧洲公布一揽子救市计划带来的兴奋,但是,对这些救市的生命线是否有效到能使银行快速从信贷危机中恢复过来,仍然不清楚。

除了英国之外,到目前为止政府作出的以万亿计的救市承诺,已经偏离到了恢复市场信心,而不是解决使银行出现问题的根本原因上。所以,美国和欧洲希望亚洲来帮助它们完成救市任务,并帮助它们以正确的方式救市——既从策略又从资金方面来讲,可能是一个好主意。

结束本次危机不仅需要放松流动性,而且要修复银行的资产负债表和重建它们的资本金基础。在危机要求一个系统性的解决办法的时候,提供的解决方案却是杂乱或不充分的。同业拆借担保不会降低不良贷款;购买呆账不会改善银行的借款能力;取得知名银行的少数股权,忽略了可能同样遭受次级抵押贷款债务损失的规模较小的银行,并因此而使它们不能服务为经济作出贡献的本地商业和消费者。

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