4 ms·
> "...the business plan of some of these companies was to become so useful to the decision-making class (business executives, government officials, and rich peo
by _448 4y ago
> "...the business plan of some of these companies was to become so useful to the decision-making class (business executives, government officials, and rich people) that they’d ultimately get some sort of government support."
This! The speculative investors have tasted blood during the 2008 financial crisis and the general public has already been conditioned to accept the idea of "too big to fail". So this music chair game is going to be played for a long time.
- pessimizer 4y ago> the general public has already been conditioned to accept the idea of "too big to fail". No, the general public has been made aware that once businesses hit a sufficient level of financial entanglement with people in government, they will not be allowed to fail. The general public was not consulted on this, because it doesn't matter what the general public thinks when something is bipartisan (which is true for all but <10 "wedge" issues.) Handing wealthy people tax money is bipartisan, for example. Handing poor people tax money is a wedge issue.