4 ms·
> No, because those exceptions become the new rule I disagree that this necessarily sets the new rule. Sure, sometimes it creates new precedents, but the neces
by surfpel 4y ago
> No, because those exceptions become the new rule
I disagree that this necessarily sets the new rule. Sure, sometimes it creates new precedents, but the necessity for an exception should go on to inform new hard set rules to prevent the necessity for exceptions in the first place. In this case, a return to a more regulated banking sector, hopefully.
This is not dissimilar from highly agile work environments that require frequent process changes to achieve the ultimate goal.
- sanderjd 4y agoIt is entirely dissimilar from highly agile work environments, because neither the federal government nor the financial system are highly agile. And even in far more agile systems, path dependency and status quo bias are very powerful. I would make a very large wager with you that in a decade it will be unquestioned that last night was the night US bank deposits of any size became fully government backed. Maybe that's even a good thing! I dunno, I have no idea what all the downstream effects will be. But the banking system now works a different way than it did on Thursday morning, and I think it's reasonable to question the wisdom of a change this huge being made over one random weekend.