3 ms·
What i dont get is that you have a private company which mis managed its assets. Caused harm to the public. And the public bails them out with no equity or upsi
by bushbaba 3y ago
What i dont get is that you have a private company which mis managed its assets. Caused harm to the public. And the public bails them out with no equity or upside. Total shame as the CPUC could have demanded the state or rate payers get equity/bonds in the company for the bail out.
- ryandrake 3y agoThe USA basically has one politically viable solution to every problem it faces: “handing money to corporations.” That’s all Congress and States are willing to do. Electric utility graft and corruption? Hand them money. Banking failure? Hand them money. Airplanes falling apart? Hand them money. Health Care incentives misaligned? Hand them money. Poverty? Hand money to corporations that will embezzle most of it. People out of work during COVID? Hand their employers money. Top corporations getting too big and powerful? Believe it or not, hand them money. That’s the only tool in the toolbox. It’s helpful to think of Congress as a gigantic money funnel where our tax dollars go in and they take turns aiming it at their favorite corporations.
- the_optimist 3y agoThe government itself is akin to a perfect corporation: not liable, no accountability, monopoly on taking, monopoly on force. What’s this alternative that corporations that you’re alluding to?
- the_optimist 3y agoSomehow voting reveals this government-is-godlike thinking that a magic superpower is going to bestow greatness upon humanity and achieve all of its hopes and dreams. When we look for a single example of this in all of history, the result is a null set, and in most cases the saviors are monstrous. Nonetheless, somehow this hope persists. See it every time in the votes here.