Další Bretton Woods

NEW YORK – Svět sklouzává do velkého globálního zpomalení, pravděpodobně nejhoršího za poslední čtvrtstoletí a možná i nejhoršího od velké hospodářské krize. V nejednom smyslu je to krize „made in America“.

Spojené státy vyvážely své toxické hypotéky do celého světa ve formě cenných papírů krytých aktivy. Spojené státy vyvážely svou filozofii deregulovaného volného trhu, což dnes dokonce i její velekněz Alan Greenspan pokládá za chybu. Spojené státy vyvážely svou kulturu firemní nezodpovědnosti – neprůhledných akciových opcí podněcujících špatné účetnictví, které sehrálo v tomto debaklu svou roli, stejně jako ji před několika lety sehrálo ve skandálech kolem firem Enron a Worldcom. A nakonec Spojené státy vyvezly i svůj hospodářský pokles.

Bushova administrativa konečně povolila a udělala to, oč ji naléhavě žádali všichni ekonomové: vložila do bank více prostředků. Ďábel se však jako vždy skrývá v detailech a ministru financí Spojených států Henrymu Paulsonovi se možná podařilo podkopat i tento dobrý nápad – zdá se totiž, že přišel na způsob, jak rekapitalizovat banky takovou formou, která nemusí vést k obnově půjček, což by pro ekonomiku nevěstilo nic dobrého.

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