Ensuring a financial system’s stability is a multifaceted endeavor – complex enough to keep many diligent people fully employed. But it also comes down to this: how much loss-absorbing shareholder equity is on the balance sheets of the largest financial firms?
确保金融体系的稳定需要多方面的努力——复杂到足以使令许多勤勉的人日夜工作。但这也可以归结为：那些最大金融机构的资产负债表上究竟有多少股东资产净值是可以用来吸收损失的？