Guest Post by Paul Craig Roberts
The US airline companies have bankrupted themselves by buying back their stock in an enrichment scheme for CEOs and board members (https://www.lewrockwell.com/2020/03/david-stockman/the-crony-capitalist-thieves-are-back/). With the impact of the virus on their revenues, Congress is handing them a $50 billion bailout. Instead of being bailed out they should be nationalized.
In the health and economic crisis in which we find ourselves, the government is going to need all the public trust it can get. Bailouts of those who caused their problems and ours won’t meet the fairness test.
Continue reading “Debt Forgiveness and Nationalization Are the Answers to the Economic Crisis”
