Bond investors’ heavy reliance on credit-rating agencies, which tend to be laxer with powerful issuers, has not been fixed. The shadow banking sector’s dependence on the official banking sector’s liquidity and guarantees, and thus ultimately on the government, has not even been touched.
债券投资者严重倚赖评级机构，而评级机构总是倾向于给有权有势的债券发行者打高分，这一问题就没有得到解决。影子银行部门依赖正式银行部门的流动性和担保，从而最终依赖政府担保，这一问题根本没有提及。至于对金融机构杠杆规模的限制，要到下一个十年才会起效。