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By other banks. Not the taxpayer.

by selectodude 5y ago

Ericson2314 5y ago
Still, ain't like the banks are going to bail out regular people for making some stupid investment.
- mason55 5y ago
  I'm not sure of the actual point of this whole thread, but regular people make bad investments and get bailed out all the time: it's called bankruptcy.
  - Ericson2314 5y ago
    Bankruptcy hurts more because no limited liability. And when the other bailouts are more like "refinancing" as the other reply points out, the institutional bailouts hurt even less.
- xkjkls 5y ago
  They do all the time. Every mortgage refinance is a bailout by the same conception that you are using.
  - Ericson2314 5y ago
    There are refinances but there is also good ol' foreclosure. How many rich financiers have actually "lost everything"? Coperate limited liability + allowed to leverage more + your friendly competitors bail you out is a suspicious combo, even if each of those in isolation is totally fine.
omgwtfbyobbq 5y ago
Under supervision of the Fed. https://en.wikipedia.org/wiki/Long-Term_Capital_Management https://en.wikipedia.org/wiki/Long-Term_Capital_Management
cronix 5y ago
How about this? > “This bailout is for the honest, hard-working hedge fund people who should be assured of making money,” said Biden today. > “We spent trillions of taxpayer’s money to bail out giant financial institutions who finally had their irresponsible business practices come back to bite them, and it’s only fair we do the same in this latest crisis.” > “So, it’s only fair that these hedge funds, who once again were more irresponsible with money be helped out by the taxpayer without repercussion.” > Biden revealed that the trillion-dollar package is set to be rolled out in the coming weeks with no demands for greater regulation or change to business practices. https://www.betootaadvocate.com/world-news/democrats-announces-trillion-dollar-bailout-for-hedge-funds-burnt-by-gamestop-financial-crisis/ https://www.betootaadvocate.com/world-news/democrats-announc...
- selectodude 5y ago
  That article is what we in the biz call “satire”.

By other banks. Not the taxpayer.

Ericson2314 5y ago

Still, ain't like the banks are going to bail out regular people for making some stupid investment.

mason55 5y ago
I'm not sure of the actual point of this whole thread, but regular people make bad investments and get bailed out all the time: it's called bankruptcy.
- Ericson2314 5y ago
  Bankruptcy hurts more because no limited liability. And when the other bailouts are more like "refinancing" as the other reply points out, the institutional bailouts hurt even less.
xkjkls 5y ago
They do all the time. Every mortgage refinance is a bailout by the same conception that you are using.
- Ericson2314 5y ago
  There are refinances but there is also good ol' foreclosure. How many rich financiers have actually "lost everything"? Coperate limited liability + allowed to leverage more + your friendly competitors bail you out is a suspicious combo, even if each of those in isolation is totally fine.

omgwtfbyobbq 5y ago

Under supervision of the Fed. https://en.wikipedia.org/wiki/Long-Term_Capital_Management https://en.wikipedia.org/wiki/Long-Term_Capital_Management

cronix 5y ago

How about this? > “This bailout is for the honest, hard-working hedge fund people who should be assured of making money,” said Biden today. > “We spent trillions of taxpayer’s money to bail out giant financial institutions who finally had their irresponsible business practices come back to bite them, and it’s only fair we do the same in this latest crisis.” > “So, it’s only fair that these hedge funds, who once again were more irresponsible with money be helped out by the taxpayer without repercussion.” > Biden revealed that the trillion-dollar package is set to be rolled out in the coming weeks with no demands for greater regulation or change to business practices. https://www.betootaadvocate.com/world-news/democrats-announces-trillion-dollar-bailout-for-hedge-funds-burnt-by-gamestop-financial-crisis/ https://www.betootaadvocate.com/world-news/democrats-announc...

selectodude 5y ago
That article is what we in the biz call “satire”.