Paul Lachine

银行监管的资本之误

马萨诸塞州梅德福德——

想象一下这样一个观点:引发兴登堡(Hindenberg)惨案的原因是这艘飞艇没有携带应有的灭火设备和降落伞,而不是可能引起大火的设计缺陷。今天的银行改革之争和这一观点如出一辙。

银行改革的首要任务应该是改变银行业机械化、巨大化的状态。曾几何时,银行家认识所有的贷款人,并且逐一作出贷款决策。可如今,银行用远离第一线的金融巫师所开发出来的模型批量生产贷款以及一系列的衍生产品。批量生产对巨型银行的成长有利,因此,与贷款官员的误判不同,巨型银行所使用的有缺陷模型造成了灾难性的后果。

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