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Too bad. Capitalism working as it should and no last minute government bailouts for failing companies. The market should decide and determines winners and lose
by rvz 6mo ago
Too bad. Capitalism working as it should and no last minute government bailouts for failing companies.
The market should decide and determines winners and losers, not the government.
So compete.
- 47282847 6mo agohttps://en.wikipedia.org/wiki/Monopoly https://en.wikipedia.org/wiki/Monopoly
- littlexsparkee 6mo agocan't help but think of the deadweight loss to the US over lack of free market capitalism in terms of bailouts, price supports & subsidies, monopolies, etc. every day we stray further and further from this system we purport to have. edit: do folks not think more competition would be better for consumers? i'm no stan of capitalism but surely it could be made better, sheesh.
- deleted 6mo ago[deleted]
- phtrivier 6mo agoI never heard about this company before this morning, so I can't project any second order effect of this closure. That being said, I suspect many people had never heard about Lehman Brothers before 2008...
- low_tech_love 6mo agoMan wouldn’t it be great if we lived in that world?
- vrganj 6mo agoOther than ideology, in what way is this a good outcome? For passengers? For workers?
- ungreased0675 6mo agoBecause companies that are run poorly should go out of business. Otherwise, what incentive is there for management to do a good job?
- vrganj 6mo agoWhy can't management be fired instead? Why punish the above groups for the mistakes of leadership?
- RestlessMind 6mo agoManagement is also fired in this instance. What you are probably suggesting is that management should have been fired sooner and replaced with competent ones. That is the job of the board, who is the proxy for shareholders. Since the board didn't do its job properly, their shares are also going to zero. Again, working as intended. There should be no free lunch or bailouts for incompetent work.
- vrganj 6mo agoThe people being punished aren't the board or the management, those will fail upwards to other cushy roles. The people being punished are the workers and the consumers. If the board is unable to bring their house in order, the state should fire them, not let their incompetence ruin the lives of the working class. I agree with GP that this is "capitalism working as it should", e.g. inflicting cruelty on working people while funnelling more wealth upwards. I disagree with the assessment of that being a good thing.
- RestlessMind 6mo ago> those will fail upwards to other cushy roles I see this trope often. Citation needed! > If the board is unable to bring their house in order, the state should fire them, not let their incompetence ruin the lives of the working class. Oh no please! Last thing I want is letting Donald Trump (or AOC if you are a right-winger) decide which board to fire based on their whims about a company. > I disagree with the assessment of that being a good thing. What you are suggesting is much worse.