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主题:【讨论】Too big to fail? 转一段分析 -- aokrayd

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家园 It is too rough estimation

Normally the assets on the balance sheet is much less than liquidation value, unless it is mostly cash. The author overestimated the value of assets in case of bankruptcy.

He also ignored the chain actions in the case of a large institution failure. When one big bank has to sell everything to pay bond holders, the stock prices would be very depressed causing assets value of others shrink a lot.

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