Let the office real estate industry crash and burn, so that developers lobby for the zoning to build more housing instead of more offices. The worst thing we can do right now is bail out commercial real estate investors who bet on the construction of cities with 10x more cubicles than apartments.
Markets as optimization tools only work if people are made to suffer their losses when they occur; bailouts subvert the process and pervert the outcomes.
Markets as optimization tools only work if people are made to suffer their losses when they occur; bailouts subvert the process and pervert the outcomes.