Paul Lachine

منتجات مالية تبعاً للوصفة

نيودلهي ـ من بين التداعيات الإيجابية للأزمة المالية التي بدأت في عام 2007 ولم تنته حتى الآن، أننا أدركنا أن المنتجات المالية قد لا تقل تعقيداً وخطورة عن العقاقير المخدرة. ولقد قادنا هذا الإدراك إلى أفكار إبداعية وتجارب جريئة في تطبيق قوانين وأنظمة ومؤسسات جديدة في مختلف أنحاء العالم.

ففي الهند أعلنت الحكومة عن تأسيس مجلس الاستقرار المالي والتنمية للعمل كأداة لمعالجة القضايا المتصلة بالتنسيق المشترك بين الأنظمة وتوفير الإشراف وتدابير التحوط ضد كل ما قد يسبب عدم الاستقرار للاقتصاد الكلي. وفي الولايات المتحدة نجح قانون دود-فرانك لإصلاح وال ستريت وحماية المستهلك، إلى جانب المبادرات الجديدة لمراقبة سلامة المنتجات المالية، في تغيير بنية التمويل.

ولقد استخدم العديد من أنصار هذه الأفكار الجديدة القياس على العقاقير علنا. حتى أن بعض المراقبين احتجوا بأنه لو كان لدى الولايات المتحدة في عام 2007 لجنة لسلامة المنتجات المالية أشبه بإدارة الأغذية والعقاقير، فإن السوق ما كانت لتغرق بالرهن العقاري "العويص" الذي أوقع الملايين من الأسر الأميركية في سلسلة جامحة من الائتمان الجشع.

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