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When a “too big to fail” company misbehaves, China doesn’t bail it out, they nationalize the useful parts, send the rest to bankruptcy, and jail the responsible
by awakeasleep 5y ago
When a “too big to fail” company misbehaves, China doesn’t bail it out, they nationalize the useful parts, send the rest to bankruptcy, and jail the responsible executives.
We’re talking past each other a bit, but this is evidence of principle driven behavior rather than government capture by the wealthy like we have in the west.
- astrange 5y agoThe US doesn't do free bailouts either, we nationalized GM and gave banks loans that we made a profit on. People misread this and just started claiming it was free money. Airline bailouts last year were good because they saved subcontractors and union contracts.