Here’s the thing: when illiquidity leads to temporary insolvency, it’s easy to chalk it up to bad luck. SBF would probably agree. But an Austrian economist woul

Here’s the thing: when illiquidity leads to temporary insolvency, it’s easy to chalk it up to bad luck. SBF would probably agree. But an Austrian economist would probably argue that no, actually what is happening is that market forces have determined that you made bad long-term investments and they ought to be liquidated sooner rather than later so the economy can shift that capital into more productive uses.