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This bailout was not for the shareholders, it was for the union (as is often the case). Bailouts usually benefit creditors, not the equity holders. edited for
by nickff 3y ago
This bailout was not for the shareholders, it was for the union (as is often the case). Bailouts usually benefit creditors, not the equity holders.
edited for clarity
- SoftTalker 3y agoWhy should creditors get bailed out? If they do, they'll keep making risky credit decisions. If they get burned, they'll be more careful next time.
- nickff 3y agoI don't think they should get bailed out, but to be clear, being 'burned' means being laid off, with an end to wage payments, and no severance.