Financial shadows are dangerous. Even more dangerous are interactions between poorly understood shadows and essential financial intermediation activities . And most dangerous is when officials and private sector executives encourage a class of transactions that supposedly provide modest risk mitigation, while really building a disguised form of systemic risk on a grand scale.
金融影子是危險的。更危險的是人們不甚瞭解的影子與不可或缺的金融中介活動之間的互動。而最危險的是，官員和民營行業的高階主管鼓勵某一類交易——此類交易理論上提供適度的風險緩解，但實際上在大範圍積累起一種變相的系統風險。
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