On: Regulators should treat stablecoins like banks

[miohtama]

I think the Boeing CEO (or some other airline) was famously quoted for this that they do not need any cash buffers, as the government will always bail them out, no matter what

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3571441

Thus, it’s ok to spend extra cash to stock buybacks and maintain no cash reserves.

[philwelch → miohtama]

I mean, he isn't wrong, is he? If he's wrong, then maybe the next time Boeing needs a bailout, we should make an example of them and not bail them out. If we don't have the balls to do that, why should they have a cash buffer?