The too-big-to-fail doctrine, exhibited most recently in the TARP bailout of Wall Street Banks, distorts efficiency by encouraging excess risk-taking.

最近由华尔街投资银行不良资产救助计划所展现的“太大而不能失败”学说通过鼓励人们承担额外的风险来扭曲效率。

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He says Posner substituted established rules that require all the class members to share similar complaints with a new, oversimplified doctrine that places efficiency above all else.

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