> Larry Summers warned against “moral hazard lectures” and demanded SVB depositors be made whole immediately in 2023, months after calling student loan relief inflationary and unfair. Moral hazard for borrowers, bailouts for banks. Not lost on the public.
I can't believe I'm about to say something that could be construed as a defense of Larry Summers, but here goes: bank depositors are not engaging in risky behavior, they are putting cash in a bank. SVB did not get bailed out, it failed.
And as some of who supports the student loan forgiveness, yes, it is slightly inflationary but I think the benefits out weigh the inflationary effects.
Combine this with the "need" for nuclear (a perfectly cromulent but excessively expensive power source which has cheaper zero-carbon options), in the first paragraph, these comments that are not about the main topic severely undermine my ability to trust the rest of the essay.
The lesson to myself is to be narrow when I write, so as not to bring in a bunch of other positions that also need to be defended.
I can't believe I'm about to say something that could be construed as a defense of Larry Summers, but here goes: bank depositors are not engaging in risky behavior, they are putting cash in a bank. SVB did not get bailed out, it failed.
And as some of who supports the student loan forgiveness, yes, it is slightly inflationary but I think the benefits out weigh the inflationary effects.
Combine this with the "need" for nuclear (a perfectly cromulent but excessively expensive power source which has cheaper zero-carbon options), in the first paragraph, these comments that are not about the main topic severely undermine my ability to trust the rest of the essay.
The lesson to myself is to be narrow when I write, so as not to bring in a bunch of other positions that also need to be defended.