In contrast to the recent rash of bailouts, future government bailouts should protect only some creditors of a bailed-out institution. In particular, the government’s safety net should never be extended to include the bondholders of such institutions.
去年，美国政府先是任由雷曼兄弟破产，而紧接着又巨额注资AIG；同时，各国政府纷纷救助其他银行。时下，关键问题还是摆在那里，即政府在解救金融机构时的择时择径问题。