Today’s links The “small nonprofit school” saved in the SVB bailout charges more than Harvard: It’s got a private ski-hill! Hey look at this: Delights to delectate. This day in history: 2013, 2018, 2022 Colophon: Recent publications, upcoming/recent appearances, current writing projects, current reading The “small nonprofit school” saved in the SVB bailout charges more than Harvard (permalink) There are no libertarians in a bank run. No sooner had venture capitalists whipped each other into a terrified Twitter frenzy at the imminent collapse of Silicon Valley Bank – a collapse caused by that selfsame frenzy – than the Ayn Rand-poisoned elite of Sand Hill Road started begging for Uncle Sucker to open the sluicegates: https://twitter.com/EricNewcomer/status/1634300928621793283 Now, on the one hand, it’s easy to dismiss these guys as very, very, very stupid. After all, they played a game of prisoner’s dilemma in which they were allowed to talk to each other as much as they wanted – and they still sold each other out: https://newsletter.mollywhite.net/p/the-venture-capitalists-dilemma But they still have the commonsense to realize that an America where $10k in student debt cancellation, school lunches for hungry children, and library budgets are out of reach, handing billions to a bank rescue a balance sheet overwhelmingly made up the investments of “high net worth” investors wouldn’t be popular. After all, these guys have been crying about incipient guillotinism for years: https://www.bloomberg.com/news/articles/2015-06-08/billionaire-cartier-owner-sees-wealth-gap-fueling-social-unrest Sure, they don’t compare small rises in the top marginal tax-rate to Kristallnacht anymore: https://www.npr.org/sections/alltechconsidered/2014/01/26/266685819/billionaire-compares-outrage-over-rich-in-s-f-to-kristallnacht But they are locked and loaded for…Pluralistic: The "small nonprofit school" saved in the SVB bailout charges more than Harvard (23 Mar 2023)