Replying to Avatar jimmysong

If they bail out SVB, it'll combine with a bigger bank on a sweetheart deal arranged by the Fed.

If they don't bail out SVB, deposits will go to the bigger banks that are more likely to get bailed out.

Fiat money creates winner take all dynamics.
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stacktoshi 🚀 ∞/21m 2y ago

It creates more reliance on the state to manage risk, which means a less-free economy and a less-prosperous future.

How do we break the hivemind of this belief that bailouts ultimately solve anything?

(and selfishly I’m okay with a bailout here… my taxes at work, right??)

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