Was it the result of deregulation, speculative excess and greed?

金融危机是管制缺失，投机过度和贪婪的结果吗？

youdao

The phenomenon of speculative excess has less to do with free markets than with high profits.

过度投机的现象与其说与自由市场有关，不如说与高利润有关。

youdao

"We have to find a new way - or maybe it's an old way - to stimulate enough demand for the economy to do what it's supposed to do without speculative excess," Mr. Bernstein said.

“我们必须找到一条新的途径——这也许是一种古老的方式——刺激足够的需求，使经济无需经受过度投机造成的恶果，让它做它应该做的事情，”伯恩斯坦说。

youdao

Kindleberger observes in "Reaching for yield"(p. 82), financial history offers many examples of times when falling yields on British consuls and other relatively safe investments generated speculative excess, followed by crash.

FORBES: Side lines

By contrast, by removing excess liquidity, the central bank can cause the sudden collapse of speculative excess, and it can also hurt healthy recovery or growth by constricting the money supply.

FORBES: Anna Schwartz, Monetary Historian, RIP

The strongest argument for a revaluation now is not that the yuan is undervalued, but that an adjustment would halt speculative capital inflows and so mop up the excess liquidity.

ECONOMIST: China's economy