Major investors used to risk capital on large assets, but government backstops have really changed the game. Perceived risks have gone down, as have returns. M

Major investors used to risk capital on large assets, but government backstops have really changed the game. Perceived risks have gone down, as have returns. Many people cite the 1984 bailout of Continental Illinois as a turning point, but there are many examples before and after that.[1] [1] https://en.wikipedia.org/wiki/Bailout#Examples https://en.wikipedia.org/wiki/Bailout#Examples