Austan (Austan) Goolsbee
speaker
656 appearances
1 recordings
1 series
first heard Jul 2026
last heard 15 Jul
Austan (Austan) Goolsbee’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
Here's a big difference between the COVID times and the great financial crisis times.
That was bank-driven crisis.
Part of the thing that infuriated me, infuriated everybody about the bailouts is, wait a minute, we're bailing out exactly the people who are at fault for creating this.
And that made for a dynamic that was a, wait a minute,
Even if you told me this thing would be better for the economy, I don't want you to give these people money.
And then the Tea Party's rise was, I don't want you to bail out the homeowners because I think they're at fault.
They were over their heads.
They were buying houses.
They never had any business buying.
So that conflict was a little different when it came to COVID because it wasn't anybody's fault.
So I feared with the PPP loans and the unemployment insurance and a whole bunch of stuff.
I was like, whoa, geez.
When we were going through the financial crisis and the stimulus following the financial crisis, we had massive monitoring to make sure there's no fraud because everyone perceived if there is a lot of fraud,
the legitimacy of all of these programs are going to be undermined.
Somehow, because it was biology or spreading, people just kind of wanted to say, let's not speak of this again.
Let's just like, let's get on with our lives.
I think there's no question that your read of the evidence
That the unemployment rate went higher under COVID, but came down like pretty quickly.
And we recovered very quickly.
And we recovered quickly to the extent that that's a lesson for dealing with other massive monumental shocks.
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