If a business fails it fails. Period. No government aid.
If a business that fails is vital to the economy, it is still not bailed out. It is nationalized and turned into a government service. The people who drove it into failure get nothing (except possibly jail time if there was malfeasance).
Later, if there is someone who shows evidence of being able to run the business successfully, perhaps hand it off as a crown corporation for a bit to that person.
But at no point should failed businesses be given government money to keep them alive. That rewards massive failure only.
“But what about the workers there?”
Let the workers buy up the company.
Seeing that more and more in my area. I love seeing Worker-Owned.
That’s another great option. Turn them into worker-owned syndicates.
So you’re saying there’s a bailout
until democrats control something, that is an unsupportable position
AIPAC/Billionaires donor keep her and BERNIE and by extension crockett from gaining any significant influence in the party.
the party is losing it’s grasp fast
the GOP is dead, replaced by a cult. all those “moderate” republicans of old vote establishment dem or don’t vote at all the DSA has been making great strides taking dem seats covertly, along with open progressives taking seats openly. i could honestly see the democratic party of olde dying entirely next year, if there’s enough votes overall to force internal leadership changes and usurp the democratic pocketbook.
this is of course mostly copium on my part, if the tides looks like it’ll turn the other way towards a nazi americs…i’m gtfo asap
There was at least a coherent rationale for the GFC bank bailouts - if you let parts of the finance system collapse a) real people lose lots of savings, and b) it might destabilise the whole system, and cause a domino effect (not saying I agree with it)
That rationale doesn’t apply for AI (though there will certainly be investment banks that collapse, I guess)
Don’t worry, it won’t be “entertained”, it will simply be done
And then the bailout money won’t go to saving these shiny turd companies, it’ll all go to the CEOs and founders and that’s about it
We shouldn’t be entertaining a bail out at all, regardless of any social systems being funded.
Who is “we”?
It seems like this is the usual ultra privileged people who violently control society under a fundamentally evil system.
That’s not me and I doubt it’s you.
All societies are controlled by violence.
I think you’re missing the point, but sure Jan
I’m still right. You can’t spell “enforcement” without “force”.
And you’re still irrelevant, even when you’re correct.
I’m fine with that.
Came here to said the same thing. I get what she’s going for but no, there shouldn’t be a bailout at all.
If a government ever needs to bail out a company, that company should be rolled into the government as a utility or service, and its CEO/board should be released with no compensation, and barred from holding similar positions for 10 years.
The bank bailout, airline bailout, automotive bailout, mortgage bailout, etc., should have all been rolled into the federal government, or been completely shut down. If you run your business so shittily that you cannot function without a government bailout, then that business shouldn’t exist.
You’re overcomplicating things. There’s no reason for a bailout in an ostensibly capitalist economy, period. I appreciate your comment but bailouts shouldn’t exist at all
There are legitimate negative economic consequences to letting large enough businesses fail. Nationalizing them with no compensation to their executives is a better plan than golden parachutes or inaction, and it’s easier to do than fully-automated luxury gay space communism.
you have found a troll, when someone clearly isnt trying to engage in honest debate your words mean nothing. they are just trying to waste your time and energy for shits and giggles. best to block and move on
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Nope there aren’t :) Ford, Wall Street, and Perplexity should all fail because… they failed.
That’s kind of how this whole thing works and the worst kind of PPP youre advocating for is what got us in this shithole in the first place
PPP is the golden parachutes I was saying we shouldn’t do.
But AI is critial to the rise of Idiocracy!!
The computer did that auto layoff thing!
You are an unfit mother. Carl’s Jr believes no child should go hungry. Your child will now be placed into the custody of Carl’s Jr. Carl’s Jr: Fuck you! I’m eating!
Socialized risk, privatized rewards.
Same as it ever was. Hail corporate!
Letting the days go by
Remember that these CEO’s are the ones (along with their pay-for talking heads in the media) that will, with the zeal and energy of a pentecostal minister on crack, tell us all that socialism will destroy innovation, reward the lazy, and put a bigger burden on the middle class tax payer. All while doing everything their bank accounts can do to build a system where they get more and more of our tax money - because of reasons.
I can feel myself being radicalized in real-time by the shamelessness with which they engineer the system to rob everyone not in their country club.
And by the video I watched this morning about who Jay Gould was and who Andrew Carnegie REALLY was.
And at least Carnegie built libraries, parks, and schools with some of his plunder. Modern capitalists don’t even do that.
Id like to watch this, have a channel name?
@DamonCassidy Why Billionaires HATE the Working Class. The Gould and Carnegie (mostly Gould) bit is only a small part of the video.
Thank you!
The rich don’t like that she breathes air.
I still don’t (figuratively) understand why the government has to subsidise a capitalistic system. Risk is a part of it, so why not embrace it? Is it because they’re too rich to fail? Why is that reserved for the poors?
To put it simply, because it’s too big that the economy of the country is depend on it. If the company failed, massive amount of mid/high income people would lose their job, and this will affect the country’s economy so badly it could potentially crash it. That’s why country constantly bail out big company, its to protect basically everyone. Except when other country bailing out a company they nationalised it in some way.
When the rich say trickle down economy, this is the stuff that is being trickle down, not the good stuff that benefits everyone.
Which is exactly why you stop letting monopolies and duopolies pop up left and right, because they centralize risk and take down your country’s economy with them.
Risk is better spread out across the economy by having lots of small players taking small risks and either making a payday from them, or not.
Yep. When i look at big corporate, everyone want to be the biggest player in the country, yet every economist know in their heart it’s the micro, small and medium enterprise that really matter for the country. A lot of example in american small town, where the giant corporate come in and destroy the small business, then left the town when it’s no longer profitable. Everyone left unhappy other than the executives.
because all that talk of “risk” and “effort” is propaganda.
they’re just making up excuses to why they are on top and why we should stay at the bottom. they actually take no appreciable risk, while we have to if we want to make a real investment.
They have the money to be able to change the rules and the lack of morality to be willing to change them.
At the very least the government should then own part of the companies they bail out. If they are so essential and unable to stay afloat on their own…
yes, and in most sane countries that’s exactly what they do
The car manufacturer bank bailout was treated as a loan. They did technically pay the government back+interest.
Because they are “too big to fail” because we have lack of regulation allowing for monopolies controlling vital infrastructure and aspects of society and government.
The rich won’t care what some phony politician said… They’ll still get their bailout.
exactly what i was thinking. no one will stop a possible bailout except the us people.
and the us people doesn’t seem interested in this effort.
