The High Cost of Incompletely Funding the FSLIC Shortage of Explicit Capital
通过类比1989年阿拉斯加石油泄漏，指出美国联邦官员长期拖延处理储蓄与贷款机构的资本短缺问题，使用会计手段掩盖，最终给社会带来巨大成本。
A useful parallel can be drawn between the Alaskan oil spill of 1989 and the flood of red ink spilled in recent years by U.S. thrift institutions (savings and loan associations and savings banks). In each case, initial damage from the spill was severely compounded by delaying and mishandling the clean-up required. For more than a decade, federal officials refused to acknowledge that the thrift ink spill had compromised the integrity of the supporting depositinsurance fund. Instead of promptly shoring up the finances of this fund, officials used accounting smoke and mirrors to cover up the fund's secularly increasing capital shortage. This prolonged refusal to face up to the magnitude of the underfunding imposed enormous costs on society as a whole.