2 ms·
There's a bitter joke about privatizing profits and socializing losses. It's not exactly true, but it's depressingly close. It's not entirely incoherent to be
by jfengel 2y ago
There's a bitter joke about privatizing profits and socializing losses. It's not exactly true, but it's depressingly close.
It's not entirely incoherent to be prepared to backstop losses when they would become systemic. But that mandates limits on risk, or it just tells people that the joke is actually reality. Balancing that requires constant vigilance... which corporations deter by calling it "socialism".