Симпатии к Гринспану

БЕРКЛИ - В кругах, где я вращаюсь, существует практически единодушное согласие относительно того, что руководящие денежно-кредитные учреждения Америки совершили три серьезных ошибки, которые внесли свой вклад в усиление финансового кризиса. Это согласие практически всегда сопровождается заявлениями о том, что председатели Федеральной резервной системы хорошо служили Соединенным Штатам - по крайней мере, со времен Пола Волкера, и те из нас, кто не был на их месте, знают, что мы бы допустили еще большие ошибки. Тем не менее, мы все согласны с тем, что американские высшие чиновники допустили ошибки когда:

·    было принято решение отказаться от нормативного регулирования и позволить теневому банковскому сектору расти по отношению к долговой нагрузке и схемам компенсации, веря при этом в то, что гарантий правительства относительно коммерческой банковской системы будет достаточно, чтобы уберечь нас от проблем;

·    когда мы оказались в беде, федеральная резервная система и Казначейство приняли решение национализировать AIG и оплатить его счета, а не поддерживать его контрагентов, которые позволили финансистам притворяться в том, что их стратегии были надежными и основательными;

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    Angela Merkel’s Endgame?

    The collapse of coalition negotiations has left German Chancellor Angela Merkel facing a stark choice between forming a minority government or calling for a new election. But would a minority government necessarily be as bad as Germans have traditionally thought?

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