This is something I don’t get about the bailouts. The airlines have been through bankruptcy before and the industry is still with us. Why must we bail them out now? Why can’t we just provide DIP financing if need be and let the process work? Would love an alt perspective!https://twitter.com/DanielleFong/status/1248591202611585031 …
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Replying to @LAForeverHall
The whole thing depends on the general public and, probably, most legislators not understanding the difference between the words "bankruptcy" and "liquidation".
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Replying to @moseskagan @LAForeverHall
>not understanding the difference between the words lol come on this is like neolib tv pundits crying about people "voting against their economic interests." so disconnected
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"bankruptcy" (as in chapter 7) is a club used to beat working/low middle class people over the head with, widely inspires terror, the worst thing that can happen to you after death or dismemberment
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because ever since wwii this society has run on giving most people the tiniest stake possible in it and then making them scared shitless over the prospect of losing it
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Replying to @alicemazzy @LAForeverHall
I think we're talking past each other. I meant bankruptcy in the corporate sense, not the personal one. But the confusion kind of illustrates my point: Corporate bankruptcy is not so bad (besides for the shareholders), but it's conflated with personal bankruptcy.
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Replying to @moseskagan @LAForeverHall
no, I understand the distinction, I'm saying this is like having lingchi in the law code and for people it refers to slowly being cut into pieces but for corporations it refers to a fine
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and then saying "lol silly peasants don't understand lingchi is just a fine." anyway most people don't give a fuck about the airlines and if a bailout happens it will be because of political corruption, not public opinion
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Alice I think you’re backwards on bankruptcy (I say this lovingly), but I suspect you’re
correct about the airline bailouts.
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