The fact that there is even a small liquidity crunch for banks implies larger liquidity crunches for less intensively regulated financial institutions, and even greater liquidity crunches for manufacturing and real-estate companies. It is hard to imagine that manufacturers are not now postponing orders of capitals goods, and that new home sales in America are not dropping right now.
银行存在即便是很小程度的流动性紧缩的事实预示着集中管制程度较低的金融机构面临较大的流动性紧缩，而制造业和房地产公司则面临更大的流动性紧缩。很难想象制造商现在会延期预订资产货物，或者美国现在的新房销售没有面临下滑。