But it makes little sense to insist on it as long as losses by banks that remain “too big to fail” could trigger a renewed financial crisis. Any chance to make this work would have required overhauling the financial system early in 2009, but that opportunity was largely wasted.
从原则上看，要求银行参与化解债务危机的融资无疑是正确的。但如果“大到不能倒闭的银行”的亏损可能诱发新一轮的金融危机，坚持让银行买单就没有什么道理了。实现这一目标需要在2009年初对金融系统进行全面检查，但那次机会基本已经被浪费掉了。