But the loss of just one tiny saucer could result in a lot of broken crockery. The banks are still in a delicate state with many dependent on the European Central Bank (ECB) for finance. The advice of Walter Bagehot, a 19th-century editor of The Economist, was that central banks should lend freely in a liquidity crisis, against good collateral. But this support was supposed to be short-term, not continuous: a central bank should be an emergency room, not a hospice.
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The advice of Walter Bagehot, a 19th-century editor of The Economist, was that central Banks should lend freely in a liquidity crisis, against good collateral.
《经济学家》19世纪的编辑沃尔特·巴基·霍特给出的建议是，在资本流动危机中，按照抵押物，中央银行应当自由放贷。
The rules are there for a good reason: to guard against devastating collateral damage by private security forces.
但这道武器禁令却有着一个善良的理由：避免私人安保公司造成毁灭性的误伤。
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