This is a rational arrangement, albeit with inherent institutional defects.
这是一种合理的安排, 虽然它内生着制度性的缺陷。
In a financial system with institutional defects, one of the most reasons is that bank's credit fund flow into the stock market.
危机性泡沫的形成有许多原因,在一个制度存在缺陷的金融体系下,银行信贷资金介入股市是其中一个重要因素。
Then, banks only have limited rationality, bank impersonal exchange has institutional defects, and financial crisis is inevitable.
所以银行只具有有限理性,银行人情式交易存在制度性缺陷,而金融危机不可避免。
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