4 ms·
It's not the that ruined them, but we see another classic transfer from the state (=people) to the wealthy. The correct thing would be to nationalise them if t
by pergadad 7y ago
It's not the that ruined them, but we see another classic transfer from the state (=people) to the wealthy.
The correct thing would be to nationalise them if they go bankrupt, not to bail out the investors that earned money with the explicit expectation of risk.
And I say that having lost 10k in stock value in the past month. Still my fault and my risk and I don't deserve to be bailed out for it.
- himinlomax 7y agoIt's a form of insurance payment, wherein the insurer of last resort (the state) covers what private insurers don't because they can't. No insurance policy covers war. This is pretty much like a war. It's uninsurable because it affects everyone. Bailouts in 2020 are not gifts to the reckless rich like in 2008, they're like the Marshall plan.
- mav3rick 7y agoEvery time things are nationalized, people eventually clamor for privatization. Govts can rarely run corporations.