As Carmen Reinhart and Kenneth Rogoff tell it in their masterly book This Time is Different, there is no secure way of short-circuiting a deep banking crisis. The crisis originates with “excessive debt accumulation,” which makes economies “vulnerable to crises of confidence.”
正如莱因哈特（Carmen Reinhart）和罗格夫（Kenneth Rogoff）在他们的《这次不同了》（This Time is Different）中所言，对付深度银行危机，没有包管用的灵药。危机起源于“债务的过度积累”，债务过度积累导致经济“易受信心危机打击”。政府不得不出售援助商业银行；接着，又不得不等着商业银行来救。最后，政府和商业银行都不得不靠中央银行施以援手。