A thing that bothers me about a lot of the "they're an evil company, no bailouts for them" discourse that's been on twitter recently is that bailouts/emergency support is supposed to be preventing a large disaster not using congress/public opinion to pick winners and losers.
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If a $2 Trillion stimulus isn't the smallest intervention you can make to prevent the disaster then it's just looting the treasury, and if you're ok with the bill, but think Cruise Ships shouldn't get help then you're ok with the looting, just not by them.
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Andrew Rettek Retweeted Eliezer Yudkowsky
for an idea on what government help looks like without congress deciding who's worthy of help:https://twitter.com/ESYudkowsky/status/1242290719466737666 …
Andrew Rettek added,
Eliezer YudkowskyVerified account @ESYudkowsky
The way it works in a free market: If a profitable corporation spends all its cash on dividends, then suddenly needs cash to continue operating... it gets a loan. Sometimes it goes through bankruptcy, shareholders get wiped, and bondholders get shares; then it gets a loan. 1/5
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11:47 AM - 28 Mar 2020
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