Explain to me why we should spent taxpayer money to bailout companies (airlines) who spent their cash buying their own stock so the CEO gets optionality, instead of having a crisis buffer.
We should bail out individuals based on needs, not corporations.#Moralhazard
— Nassim Nicholas Taleb (@nntaleb) March 22, 2020
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Same old song & dance.
WE SHOULD BAIL OUT NO ONE!! I AM TIRED OF PAYING FOR OTHER PEOPLE’S GROSS STUPIDITY!! YES, I AM PISSED!
Because we’re America. We socialize the corporate loses and stupid, lazy people. Then privatize profits. What a great deal for the inept. We’re #1, we’re #1…
Because people vote.
Mortgage moratorium, suspension of interest accrual. Washington doesn’t understand the revolution that is brewing, or at the least they have no idea how bloody it would be. And they would lose. We need radically new thinking and leadership before America returns to the Middle Ages.
The objective should be to sedate the populace at the very least. Keep them fed and in their homes. This isn’t rocket science, except that government doesn’t attract the best and brightest among us. I’m trying to figure out where on Maslow’s Hierarchy that airline bailouts appear.
http://michellemalkin.com/2020/03/18/crisis-socialism-no-bailouts-for-open-borders-globalists/
Well, I don’t wish ill will on any company no matter how big or small it is. But I will say this: as a small/medium size business I know for a fact that if I blow it that no one is coming to bail me out. In fact, some might cheer as I go down in flames. So…
Americans are one paycheck from having nothing. It’s partially their fault (spending habits and voting patterns), and partially govt.’s (gross fiscal mismanagement). Once they are pushed back down to the base of the pyramid, people will go batshit crazy.
Washington has no clue what trouble they’re in and no amount of martial law would work on millions of armed, hungry, homeless citizens.
We’re firsthand participants in a change of the ages, perhaps an every 300-500 year changing of the guard event.
It really didn’t have to be this way.
If you nationalize airlines you forever put private capital at risk.
The bailouts need to happen for lunch pin industries with strings attached.
The Euros cant afford a bailout, we can.
The bankruptcy of Airbus is what Boeing needs.
It is beginning to sound like they are going to let Boeing become the 2020 version of Lehman Bros. I doubt they will let them go under, but would not be surprised if there was a very large purchase of Boeing’s treasury stock by the gov’t.
going under does not usually mean going out of business.
You seem to be mixing up Lehman and AIG.
They turned their back on Lehman. I get the feeling they are doing the same thing with Boeing, but they cannot let the only airplane manufacturer in the US go tits up, so will do something that gives them control of the company, almost like GM, but on steroids.
If Boeing has mismanaged their business (and they have), they should go out of business. The way the process would, or should, work is that their inept management would be dismissed, their assets would be auctioned to a better capitalized investment group, new more capable management would be hired and the new company would go on manufacturing airplanes in a more efficient and reliable way. Failure is an integral part of capitalism. Maybe it is a good idea to bail these big companies out – just don’t say that we have a capitalist system anymore.
We have not had a capitalist system for a very long time, just like we have not had a free market economy since the government began regulating everything they could get their hands on.
ALL of the big banks pushed us into the recession in ’08 and only Lehman paid the full price. The rest of them were rewarded for their malfeasance. GM, likewise, should have been allowed to file for re-organization, but the administration found it better to save them and put the UAW on the board.
Boeing will be saved, along with the union jobs they have. WHO will be in control is the question.
I love the delicious ironical fact that casinos are wailing for a nice fat government bailout check.
https://calvinayre.com/2020/03/18/casino/sands-shuts-las-vegas-strip-casinos/
Problem is they are going to get one or more and Rob Goldstein approves.
Can we ever envision the casinos providing bailout checks to gamblers who got sick at the gaming halls after dropping a pile of cash? MMMM I doubt it.
Since these companies spent the better part of the past decade buying back their own stock, they have lots of stock can sell back into the market to generate cash.
I guess buying the corrupt shit in Congress, and getting a massive corporate welfare check, must be easier or something.
Why anything like a bail out for anything or anybody ?
Well considering the majority of government employee pensions are grossly underfunded yet the checks go out regardless of even a hint of fiscal responsibility . Meanwhile private sector pension plans are tossed under the buss in bankruptcy as unsecured liabilities . Why the legal difference ? Because one special interest group has the ear of government and the other is seen as the great unwashed to be pillaged plundered and then ridiculed for claiming victim status . Wow what a country !
As for the stock buy back CEO procurement swindle plan the same DC circle jerks who depend on big campaign donations from the CEO cluster fuck are the very ones who leave a closed door meeting of how the coronavirus will devastate the financial markets and announce how solid the nations markets are then as the scurry about like cats covering up shit with cell phone in hand dump everything they have invested . As they walk away unhurt by the falling knife the stock market became overnight out comes the PRISSY DEFENSE we don’t know nothing about stock markets while every private investors gains are GONE WITH THE WIND