"Failure to act strongly enough would be a Lehman-like error."

"Also imperative that sufficient support be provided to other banks to insure full availability of deposited funds across the banking system"

"This is not the time for moral hazard lectures or for lesson administering or for alarm about the political consequences of “bailouts”.

- Larry Summers

Reply to this note

Please Login to reply.

Discussion

TLDR: Brrrrrrrrrrrrrrrrrrrrrrrrr

#[0]

"This is not the time for moral hazard lectures or for lesson administering or for alarm about the political consequences of “bailouts”."

When, exactly, would be the correct time?

When everyone is distracted by something else.