对格林斯潘致以同情

伯克利——在我往来联系的圈子里,存在着一种近乎普遍的共识:美国货币当局犯下了三个促成并加剧本次金融危机的严重错误。人们在谈及这一共识时几乎总不忘附上说上一句:至少从保罗·沃尔克时期开始,美联储的主席们就已经干的不错了。另外,我们作为从未担此重任的旁观者应该明白,如果换作我们,错误将会更加严重。但无论如何限定,人们还是共同认为美国决策者们在下述三个时期中犯下了错误:

·    当决定在影子银行部门的杠杆与补偿计划问题上回避了基于原则的管制,并允许其成长壮大,那时他们相信政府为商业银行体系提供的担保已足以令我们高枕无优;

·     当我们遭遇麻烦后,美联储与财政部决定对美国国际集团(AIG)进行国有化并偿付其债务,而不是选择向其同行提供援助之手,这令当时的金融家们相信他们在战略上还是没什么问题的;

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