Luigi Zingales----来自老牌经济学大院，芝加哥学派

But I disagree that this implies bailing out investors and bankers. Not only is this extremely costly for the taxpayers,s, but it gets in the way of a speedy resolution. And it sows the seeds of the next crise

The current crisis is the direct consequence of the Long Term Capital Management bailout orchestrated by the Federal Reserve of New York ten years ago. It was the conviction that the Fed would always intervene to rescue traders in a liquidity squeeze that induced banks and financial institutions to leverage up to and take increasingly aggressive gambles. 

 It requires passing a new piece of legislation introducing a new form of bankruptcy for banks, where derivative contracts are kept in place and the long-term debt is swapped into equity. 不符合自由意识

To allow banks to spin themselves off in two units, however, we need to pass a new law。