金融救助的公平性

伯克利 ——

恐怕,最好地来看待金融危机的方法就是把它看做是投资者在私人金融市场中风险承受力的一种崩盘。这种崩盘的原因或许是金融公司内部混乱的监控,在政府潜在的担保下,过于慷慨给与冒险者的巨大经济回报;或许是经过长期的幸运之后,大家都变得过于乐观;或许简单地归结于大家一种非理性的恐慌行为。

不管原因如何,市场对风险的承受力一旦崩塌,金融资产的价格也会随之一落千丈。每个人都会因此而损失巨大,但都不知道损失是如何产生的。在此环境下,购买 —— 甚至是持有具有风险的资产无疑是金融灾难的所在。同样的,不论这个公司在市场上的股价过去是多么的“安全”,现在购买或是持有公司的股权都难以幸免于难。

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