I don't have cable, and will not be able to watch this show. But I was wondering if there's truth to the billionaire class being hypocritical and thin-skinned.
Then I remembered when Silicon Valley Bank collapsed.
I was aghast that anti-government crypto-state-libertarian, Dr. Balaji Srinivasan (former Coinbase COO), called for a bailout of the bank by the government.
But I was wondering if there's truth to the billionaire class being hypocritical and thin-skinned.
It seems obvious to me, given the public meltdowns we’ve seen over the smallest of slights. IMO, I shouldn’t even have to name names. But it is an interesting difference in perspective to observe.
Regardless of what started the Silicon Valley Bank collapse, what to do about it was primarily a concern of banking policy.
Before the Dodd-Frank act, there was a concern that some banks were too big to fail, but the act addressed it by ensuring that all banks are too big to fail. The US no longer has enough diversity in the banking system allow risky institutions to collapse, because they are now all large enough to bring the entire banking system with them.
Because a bailout is effectively a necessity when modern banks are in trouble, it's not hypocritical to support it, even when against the risks the bank is taking.
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Then I remembered when Silicon Valley Bank collapsed.
I was aghast that anti-government crypto-state-libertarian, Dr. Balaji Srinivasan (former Coinbase COO), called for a bailout of the bank by the government.
I thought it seemed hypocritical.
It seems obvious to me, given the public meltdowns we’ve seen over the smallest of slights. IMO, I shouldn’t even have to name names. But it is an interesting difference in perspective to observe.
Before the Dodd-Frank act, there was a concern that some banks were too big to fail, but the act addressed it by ensuring that all banks are too big to fail. The US no longer has enough diversity in the banking system allow risky institutions to collapse, because they are now all large enough to bring the entire banking system with them.
Because a bailout is effectively a necessity when modern banks are in trouble, it's not hypocritical to support it, even when against the risks the bank is taking.