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Good question. Matt Levine’s newsletter today partly addresses it but it’s not entirely satisfactory. bloomberg.com/opinion/articl
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Can I ask a real question? Why is it that individuals are expected to save 3 months expenses + an emergency fund to survive loss of income but giant businesses can’t seem to survive this without billions from the government? 🤔
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It's simple, no? If the principle is that "the shareholders are right to gamble as long as they can", then when they lose, they LOSE. Existing shareholders get nothing, assets transferred to new owners. He tries to wiggle out of this with "I don't know about fairness" but, WTF?!
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