不要给保尔森开出空白支票

纽约——美国财政部长汉克·保尔森的7000亿美元救市计划在国会山遇到了困难。这并不奇怪:这个计划是个糟糕的构想。国会如果给财长开出空白支票就是推卸责任。递交给国会的议案中甚至有豁免任何法院或行政机关审查财长决策的条款——这最终实现了布什政府变身为中央集权行政机构的梦想。

保尔森的过往记录无法让人们建立起把7000亿美元的决定权交给他的信心。他上个星期的所作所为引发了不能不救的危机。星期一,他允许雷曼兄弟破产,拒绝提供拯救AIG的政府拨款。到星期二他不得不改变立场,以惩罚性条款为AIG提供850亿美元的贷款。

雷曼兄弟的倒台搅乱了商业票据市场。一支大型货币市场基金“击垮了美元”,依赖商业票据市场融通资金的投资银行也发生了融资困难。到星期四爆发了对货币市场基金的挤兑,我们比20世纪30年代以来的任何时候都更接近灾难。保尔森再次倒戈,提出了一份系统的救援方案。

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