行將卸任的美國總統布殊,日前圍繞現時金融市場和世界經濟作了一次演講,難得的精采;未知是否人之將離(職),其言也善,正如現時樂得逍遙的馬時享前局長。蕭滿章兄找了幾處重點,而我最為留意的是這一段:
"History has shown that the greater threat to economic prosperity is not too little government involvement in the market, it is too much government involvement in the market. (Applause.) We saw this in the case of Fannie Mae and Freddie Mac. Because these firms were chartered by the United States Congress, many believed they were backed by the full faith and credit of the United States government. Investors put huge amounts of money into Fannie and Freddie, which they used to build up irresponsibly large portfolios of mortgage-backed securities. And when the housing market declined, these securities, of course, plummeted in value. It took a taxpayer-funded rescue to keep Fannie and Freddie from collapsing in a way that would have devastated the global financial system. And there is a clear lesson: Our aim should not be more government -- it should be smarter government."
而我,只想略加補充:
"If we are not sure whether we can have a smarter government, it is better to have a smaller goverment"
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