Absolutely agree that socialising the losses is egregious. But there’s a reason that “too big to fail” gained so much currency during the GFC (God, doesn’t that feel like an eternity ago?). We’re in the middle of a new Cold War and the (perceived or real, doesn’t matter) strategic implications of just letting these things fall over are politically unpalatable.
Sadly, this is just posturing. When the time comes - and it will - the rest of us will have to do what we always do, and reach into our back pocket.
Sadly, this is just posturing. When the time comes - and it will - the rest of us will have to do what we always do, and reach into our back pocket.
Ain’t no teat like the gub’mint teat.