是否该救助债券持有人?

剑桥 ——

 去年,美国政府先是任由雷曼兄弟破产,而紧接着又巨额注资AIG;同时,各国政府纷纷救助其他银行。时下,关键问题还是摆在那里,即政府在解救金融机构时的择时择径问题。

人们现在都想,当一个大到不允许崩坍的金融机构遇到问题的时候,政府便会介入疏通。但是政府要帮到什么程度呢?相比近期的救助潮而言,政府在今后的救助行动中应当只考虑保护受助企业的某些债权人。特别是,政府永远不应当照顾这些企业的持债人。

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