IMO a bureaucrat shouldn't be able to put an institution in debt. This sounds strict, but think about it: every single company I've seen (correct me if this is

IMO a bureaucrat shouldn't be able to put an institution in debt. This sounds strict, but think about it: every single company I've seen (correct me if this is biased in the wrong direction) doesn't allow just any employee to take out a loan. Heck, even the CEO can't just go to the bank and take out a loan if the collateral are assets/equity in the company - the board needs to approve that. Why would we allow someone who's tenure is basically guaranteed to be <5 years to take out loans? I know this sounds like a non-answer but maybe it's that simple: a specific institution/bureaucrat can't take leverage. The central govt can take out loans and increase budget to hand out.