bailouts are an abomination
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My preference is to ease the pain for individuals, help businesses keep operating, and let finance take a walloping because that's what finance is for. Zeroing out the shareholders fits squarely within that paradigm.
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How common is this in the US? In Mexico, routinely a new owner would come in with a big pile of cash to inject to the business, assume all debts under new terms, and then the old shareholders get nothing (essentially a scripted bankruptcy).
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