Příliš velké na reformu?

LONDÝN – Říká se, že nejlepší žurnalistika je prvním náčrtem dějin. Kniha Too Big to Fail od Andrewa Rosse Sorkina si takové označení rozhodně zaslouží. Jako aktér s drobnou rolí v dramatických událostech, jež Sorkin popisuje (ve volném čase působím jako nezávislý člen představenstva Morgan Stanley), mohu potvrdit, že atmosféru chaosu a nejistoty, která na podzim roku 2008 zavládla v New Yorku, zachycuje výstižně.

Byla to doba, kdy se zdálo, že se pod námi posouvají tektonické desky finanční soustavy. Ukázalo se, že instituce pokládané za Gibraltarské skály jsou vlastně doutnající vulkány, jimž hrozí bezprostřední zkáza v lávě a popeli. Dokonce i Goldman Sachs uhájila existenci jen díky laskavé pozornosti Federálního rezervního systému Spojených států. Na druhém břehu Atlantiku se hrdým majitelem více než 80 % Royal Bank of Scotland, jež byla podle některých měřítek po jistou dobu největší bankou na světě, stala britská vláda.

Tato zkušenost dala za vyučenou bankám, regulátorům, centrálním bankám i ministerstvům financí, nepřipraveným potýkat se s komplexní krizí, což nikoho nemohlo překvapovat. Chyběly jim nástroje i pravomoci.

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