“Too big to fail” breaks our current system where consequences are necessary to check certain behaviour. Take bad risks for profit that dont turn out? Go out of business, and more importantly, hopefully teach a lesson to every customer, investor and employee
Grandpa went from 40 years of GM cars to a toyota when the 00s bailout happened, and they were right. These ancient monolithic companies are horribly run, there’s very little if any ownership from the bottom up, and the more we bail them out, the worse their purely short term profit motivated decisions become
decisions that inevitably hurt those of us doing all the actual work, and never the rich who are running this place into the ground to line their pockets giving quarterly-profits-line-go-up presentations
This time when one of them fails, let them.
“Too big to fail” breaks our current system where consequences are necessary to check certain behaviour. Take bad risks for profit that dont turn out? Go out of business, and more importantly, hopefully teach a lesson to every customer, investor and employee
Grandpa went from 40 years of GM cars to a toyota when the 00s bailout happened, and they were right. These ancient monolithic companies are horribly run, there’s very little if any ownership from the bottom up, and the more we bail them out, the worse their purely short term profit motivated decisions become
decisions that inevitably hurt those of us doing all the actual work, and never the rich who are running this place into the ground to line their pockets giving quarterly-profits-line-go-up presentations