America’s largest bank holding companies receive an implicit government subsidy, because they are perceived to be “too big to fail.” The authorities will not allow the biggest banks to default on their debts, through bankruptcy or in any other fashion, owing to the need to prevent the financial system from collapsing.
美国最大的银行控股公司接受着政府的隐性补贴，因为它们被认为是“太大而不能倒”。当局不会允许最大银行通过破产或其他任何形式发生债务违约，这是防止金融系统崩溃的需要。这一思想在2008年末到2009年初表露无遗；今天仍有很大的力量。