Comment on: “Floating a “lifeboat”: The Banque de France and the crisis of 1889” by P.C. Hautcoeur, A. Riva, and E.N. White

- Bagehot argued that lifeboats are always suboptimal.
- Assessing systemicness is difficult.
- Too much information is required to offset undesirable distributional effects.
- Optimal lifeboats might be impossible to implement.