The Sy Hersh effect: killing the messenger, ignoring the message

Private Credit Bank Run Begins: Blue Owl Gates After Shocking 41% Of OTIC Investors Ask For Their Money A week ago, in an attempt to calm the market, Goldman's economists published a lengthy, if at times disjointed, report discussing why a crisis in private credit would not lead to another financial crisis. We are about to find out if they were right.  Recall that in mid-March, while attention was understandably focused on the Iran war, we explained why Blue Owl's February decision to commence liquidations of loans in its three core private...

The radical classical liberals of the past were not so naive as to think that words on paper would prevent the abuses of the central state. Allowing the central state to have a monopoly on coercive power is always a mistake.