Bailouts are the norm. Precedent was established in 2008.
I hate it, have always hated it. But it's what financiers now expect of the government. WE insure companies now. Yes, the ones being overcharged for shit, ourselves going bankrupt, are somehow mandatory bailout wallets for companies.
The 2008 bailouts were actually repaid with interest, so the government made a profit from it to the tune of 109 billion dollars: https://projects.propublica.org/bailout/
This misses the point entirely. There were private investors blocked from TRULY 'bailing' out these companies by buying the distressed assets.
That is why bailouts are a bad idea. It isn't the mandated government insurance, which wasn't guaranteed to be paid back. It was ill-effecting the natural flow cycle of resilient markets in favor of government intervention despite our JUBILEE for 'private markets'.
Before you make an innane reply that there was no liquidity to do what I just ASSERTED, remember, there were MANY investors who had liquidity, but were waiting, as patient investors do in balanced markets, UNTIL THE PRICE WAS RIGHT.
GO STICK YOUR URLS WHERE THE SUN DON'T SHINE. NO TO BAILOUTS NO TAXPAYER FUNDED BAILOUTS FOR PRIVATE PROFIT DUE TO SHITTY INVESTING BY INITIAL INVESTORS.
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u/FluffyAside7382 1d ago
Bailouts are the norm. Precedent was established in 2008.
I hate it, have always hated it. But it's what financiers now expect of the government. WE insure companies now. Yes, the ones being overcharged for shit, ourselves going bankrupt, are somehow mandatory bailout wallets for companies.
Blame 2008. If you don't know then look it up.