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No.
Hell no. Should have took control of the failing corporations, took all their remaining assets, imprisoned all officers/board.
Then modify corporate law to remove limited liability, next time take all the officer/board’s personal assets too. Remove shareholder primacy. Remove corporate personhood. Remove unlimited corporate lifespans. Put externalities on the income statement. Narrow corporate purposes to specific tasks serving stakeholders.
A friend of mine says the same thing about free competition and letting them fail but I don’t buy it. We run on confidence if confidence disappears the very foundations of our economy would be royally tucked.
say aig failed. No banks were reimbursed. A few bank fails, but then you know how contagion works. That shit spreads like an std. remember Lehman brothers. That was really bad panic was real. Even clients lost their money, which created an atmosphere where people need to pull out their funds invested. If that happens and more banks fail, credit would shrink, and then we’d all be fucked. I’m prettt sure most companies people work for have a lot of debt to finance operations. Lotta people’s business would fail more people would lose jobs fueling further credit loss. It’s a really bad cycle.
Do you really want to gamble? We shouldn’t take risks always use protection.
haha I like where this is going. But do we really want to create an incentive for people to stop taking risks.
and governments are really bad at running corporations. Consider that the us is the best country in the world in terms of GDP yet our government is running at a loss. We have no savings. Also the post office. Haha. And you should read up the history on steneography. Government sucks at running shit
Corporations run on a broken risk/return model, cronyism, where they get return without taking risks (externalized, limited liability). You have to put risk back on the table for functional capitalism, that’s the one thing Taleb gets right.
You getting paid per new thread Nerdy? All of the sudden you are half of the posts. Did you have a second account that got banned ?
Haha no second account. just frequenting af more cuz now I check it while on mobile. In the shitter, while at boring events, before i sleep. When I wake with a hang over lol. We can just say it’s ace inspired.
where is ace???
Ace inspired or Ace reincarnate?
ace inspired. ive met ace in rl… dunno where he is though. i could send a text.
not bailing out AIG would mean every bank on the planet probably would’ve gone under. the losses that punched a massive hole in AIG’s BS were directly tied to insurance sold to the world’s big banks. if AIG’s losses were spread throughout the global banking system, every major bank would go under. the bailout was absolutely necessary unless you want to live something worse than the great depression. maybe you could argue that AIG should’ve gone bankrupt and you could’ve bailed out the average dude somewhere else but saving AIG seemed to be the easiest. why provide the masses with $3T in bailout funds in 2011 when you can just give AIG $100B in 2008? also, property and casualty insurance would’ve disappeared so people would stop buying houses, cars and anything major really and businesses would’ve stopped capex almost entirely. the recession would’ve lasted forever if AIG wasn’t bailed out. we’d probably still be rebuilding the insurance industry today just like the rebuilding of US household credit continues.
Should have been a structured failure.
Yeah, but the losses were that big, because of all the prior times they didn’t let corporations fail. And the losses in the next crash will nuke the US into the dark ages. SPX+USG = fragile cronyism waiting to shatter at the first volatility.
Obama, and now Trump, are wetting themselves! 
…but Schiff gots gold.
^PA has turned into Turd circa 2008
It’s called finance/economics, something finance/economics people don’t know anything about.
Was bailout necessary? Yes
Was paying the banks 100 cents on the dollar on their derivative contracts necessary? No