The shareholders who invested in companies also need to feel the effect of moral hazard. They need to be wiped. I say so as someone with 80% of my assets in th

The shareholders who invested in companies also need to feel the effect of moral hazard. They need to be wiped. I say so as someone with 80% of my assets in the market. If we keep bailing them out, they will keep doing the same. The business is dead. Shareholders would be wiped without the bailout. Nationalize the airlines that need money, fix em up new management, new charter and mission, and IPO them immediately after the crisis ends. Investors need to think about the long term risks of the companies they are investing in, and face the consequences of those risks. Because why wouldn't you invest in airlines if you know they will do a ton of buy backs and will get bailed out at the slightest hint of trouble?