I invest in equity as a living, and I beg you - wipe the equity. The world otherwise is way worst off.https://twitter.com/rohitsingh8080/status/1249568584126337024 …
(a) Epidemics don't wipe all equity equally, and (b) the probably of being wiped would be factored into the price.
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I agree Govt should not bail out equity holders in normal conditions. But in these times, it amounts to basically Black Swan Insurance.
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I agree w/ u & Bill but it’s disengenious for him to say “I invest in equity and I want equity wiped out” trying to virtue signal. He’s really saying “I invest in private, non-bailout-eligible startup equity. I want the public, bailout-eligible equity wiped out.”
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1989: Savings & Loan bailout. The markets learned we’ll privatize profits & socialize losses. 19yrs later… 2008: Bailed out the banks. They should have collapsed. We teach the markets every wrong lesson. 12yrs—here we are. Do it again, and in ~5yrs we’ll lose the dollar.
End of conversation
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Are these companies in compliance with the law? Did they chose to close, or were they forced to close? Taking private property because it is "for the common good" is the antithesis of a free market. VERY SLIPPERY SLOPE
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