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Margin Call is a fictional movie and the 2008 financial crisis had many companies that died before bailouts. And those bailouts were loans that were paid back i
by manigandham 7y ago
Margin Call is a fictional movie and the 2008 financial crisis had many companies that died before bailouts. And those bailouts were loans that were paid back in full with interest so the US taxpayers actually made money for once.
None of this has to do with capitalism. Governments exist to look after the citizenship and step in during exigent circumstances like war and pandemics. Of course we want better corporate ethics and accountability, but letting critical companies die now will only lead to further ruin. We want to avoid total societal collapse, not accelerate it.
- legolas2412 7y agoTARP recovered funds totalling $441.7 billion from $426.4 billion invested, earning a $15.3 billion profit or an annualized rate of return of 0.6% and perhaps a loss when adjusted for inflation. Amazing profit the taxpayers made! If the bailout was such a good deal, maybe the private industry could do it?
- manigandham 7y agoYes, taxpayers didn't lose any money, made a tiny profit, and the economy was stabilized while preventing catastrophic failure. You consider this a bad outcome? Public and private sectors work together. Private enterprise is great for growth and freedom but there are emergency situations where the government can help for the good of society. What is so controversial about this?