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That’s because it’s such a massive example of a systematic corporate private capital failure that was bailed out by equally massive public power while regular p
by dv_dt 7y ago
That’s because it’s such a massive example of a systematic corporate private capital failure that was bailed out by equally massive public power while regular people were left on the hook.
No other industry has gotten that kind of bailout that far into supposed maturity.
- Nasrudith 7y agoI think that is only because of the relative age of sectors given the sheer number of times airlines got bailed out.
- dv_dt 7y agoI don't think the magnitude is remotely close, but perhaps I'm off here? What airline bailouts are you thinking of?
- Nasrudith 7y agoThe multibillion post 9/11 ones for one both post attack and Iraq wars and SARs related travel reductions. If you count uniquely privileged bankruptcies and other activities there is a whole lot of the 20th century to include.
- pas 7y agoHuh. Many sectors are "strategically important" and are constantly subsidized. Farming. Everywhere in the world. Automotive industry. Fossil related industries (oil subsidies). https://www.thebalance.com/government-subsidies-definition-farm-oil-export-etc-3305788 https://www.thebalance.com/government-subsidies-definition-f...