Motion: Corporate bailouts and capital market rescues make sense, II (Jonathan Padilla vs. Nick White)

Guests:Jonathan "JP" Padilla (@JPadillaCA)Nick White (@nickwh8te)Host:Richard Yan (@gentso09)Today’s motion is “I largely approve the US government’s fiscal and monetary response to the ongoing economic crisis.” We recently had another debate on a similar topic, between Qiao Wang and Jimmy Song. While Qiao argued for the pro-establishment view, he still saw lots of issues with the government’s intervention in the markets. In the debate, Qiao was playing the role of a devil’s advocate, to help the crypto community understand the pro-intervention perspective. In today’s debate, however, the pro-intervention guest (Jonathan "JP" Padilla) is a Kenseyan, has worked for the Whitehouse, and is very supportive of the government actions during the ongoing crisis. The anti-intervention guest (Nick White) today is also not a hard-core libertarian like Jimmy from the previous debate. So today’s debate is more consensus-building than that previous debate.Be sure to also check out our previous episodes too. We’ve featured some of the best known thinkers in the crypto space.If you would like to debate or want to nominate someone, please DM me at @blockdebate on Twitter.If you like the show, please give us five stars on iTunes or wherever you listen to this.Please note that nothing in our podcast should be construed as financial advice.Source of select items discussed in the debate:Components of CPI: https://www.bls.gov/cpi/questions-and-answers.htm#Question_10Banks fined $243 billion since the Great Recession: https://www.marketwatch.com/story/banks-have-been-fined-a-staggering-243-billion-since-the-financial-crisis-2018-02-20The federal government made $15Bn profit from TARP: https://money.cnn.com/2014/12/19/news/companies/government-bailouts-end/Niall Ferguson, "The Ascent of Money": https://www.amazon.com/Ascent-Money-Financial-History-World/dp/0143116177Airlines receiving government assistance in return for equity warrants: https://www.barrons.com/articles/airlines-stocks-government-bailout-grants-loans-cares-act-covid-19-passenger-traffic-51586967006