Congress created the Fed, which means that Congress can un-create it. By assuming away the damage that highly leveraged megabanks can do, the myth of a “good crisis” merely makes political pressure on central banks all the more likely.
这一切都应当令中央银行管理者们感到忧心，因为公信力就是他们的一切。毕竟美国宪法并不保证美联储的独立。国会创造了美联储，也可以解散它。通过忽视高杠杆大银行所可能造成的危害，一场“坏事变好事”的危机神话带来的，仅仅是中央银行身上的不断累积政治压力而已。