He's mostly describing what's going on, not giving advice on what should be done. And the TLACs he's discussing are not populist.
(This may be clearer in context.)
"clearly define the classes of people whom it is socially and politically acceptable not to pay back." sounds to me like a populist suggestion.
To the extend that you quoted him out of context, that's still an issue with the quote.
Another month, another rationality quotes thread. The rules are: