All those points have been raised in Congress by legislators who are understandably fearful of the political consequences of bailing out Wall Street. But there is a legitimate riposte. The more restrictions they put on the bail-out, the more likely it will emerge as a messy fudge, lacking the wallop necessary to put the banks on a more stable footing.

所以这些观点都在国会被一些议员提出，他们考虑到拯救华尔街后带来的可以想象的可怕的政治后果。但是这都是正当合法的建议。他们在救援计划中加的限制越多，最后国会得以通过的就越有可能是一个杂乱的表面方案，它缺乏保持银行稳定地位所需的重大(改革)措施。

Financiers have different concerns. If the TARP seeks to buy assets too cheaply, banks will not take part. If prices are too high, the taxpayer may lose out. Even if the purchase of toxic assets goes ahead, might banks remain undercapitalised? Some have proposed a parallel scheme in which the government would take shares (or warrants) in troubled banks, if necessary, to build up their capital. This might be unnecessary. The TARP could be extended to allow the purchase of bank shares if necessary, or even of mortgages, which might allay some of the fears of homeowners.

金融专家有着其它的担心。如果这个救援计划试图以极其低廉的价格购买资产，银行可能不 会加入这个计划。如果价格过高，纳税人就会亏本。即使购买不良资产的计划得以实施，银行会不会依然资金匮乏？有人提出一个平行计划，在有必要的情况下，让 政府同时购入陷入困境银行的股票（或认购权证）来增强其资本。也许这不是必须的。救援计划可能会延伸到：在必要的情况下，可以允许购买银行的股票；甚至包 括抵押贷款——这会少许缓和下房主的忧虑心情。

With enough force, it could prevent financial Armageddon. But it may also prolong the period necessary for asset prices to reach their natural floor, dragging out the crisis. With such high stakes involved, it is no wonder that markets are on their toes. Bank shares led a slump in European and Asian stock markets on Tuesday, though the Dow Jones Industrial Average opened slightly higher after an oil rally on Monday petered out. Three-month interbank spreads in London loosened from the extraordinarily tight levels of last week, but were still “at highly stressed levels,” according to Morgan Stanley. The dollar, meanwhile, was slightly stronger against the euro after four days of decline. How long it can remain as firm as it is, with the Treasury pumping money into all manner of financial assets with possible inflationary consequences, is one question the markets are not keen to address.

必须拥有足够的力量，这项计划才能阻止灾难。但是这可能会延长这些资产必要的触底时间，从而延长这场危机持续的时间。 有这么多股本涉入其中，也难怪市场哀鸿遍野。尽管道琼斯工业平均指数随着油价下跌而高开，周二银行股仍然领跌欧洲和亚洲的股市。伦敦银行间拆借率开始从上 周的高峰回落，然而根据摩根斯坦利的监测其仍处于“高度紧张的水平”。与此同时，美元在对欧元连续四天下跌后，开始稍微走强。随着财政部向各种金融资产大 量注资可能引发通胀的后果，美元能坚挺多久的问题市场没多大兴趣去关心。