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@usluck Lansdowne II Ottawa Lansdowne II Ottawa
@usluck And when they cheat, don't follow the regulations and so should be fined, they should give up shares to the government at the original strike price.
@usluck
What if these companies et al. were NOT bailed out by the government? There has been a moral hazard element in the bailout process. The expectation of government money has removed accountability for poor business decisions. How many of the crises are self-inflicted by the institutions? Let them privatize the profits AND the losses.
@usluck idk man I get it but.... how are you gonna have such a lukewarm talking point about bailouts in 2023? This sentiment was nice back in 2008 but I don't give a shit anymore about whether a company should go under government control for being bailed out. Both the nation state and corporations have taken any of our goodwill and suspension of disbelief and ground it into dust these past few years. Fuck bailouts and fuck whether a Corp gets to be under convervatorship or not, it's time to dismantle these hierarchies while creating and reinforcing mutual aid and support between people.
@usluck of course they can and have been and are currently socializing the losses and privatizing the profits. It's called "capitalism". They have been doing it at the behest of our corporate capitalist masters who own all if us as well as our government.
@usluck lmfao @ the person who programmed this bot's alt text.
F-
@usluck Much better yet, give the company to the workers to manage.
@usluck it's a good sentiment but that's closing the barn door after the horse is gone.
The profits are already siphoned off by the time they get to bankruptcy/bailout.
The profits need to be taxed upfront.
Because the government is so good at running (ruining) things?
@Ralph @usluck Governments often do have a better track record when they assume control of private corporations, yes. Except when the CIA decides to topple a government because their quality of life improvements run counter to the interests of the USA.
(Am I rewriting Chilean history by phrasing it this way? Maybe. But not by much. F***ing Kissinger.)
That would be ideal if we had a government of the taxpayers, by the taxpayers, and for the taxpayers. Public companies are 'owned' by stockholders and they are less culpable than the companies management.
If the company went broke through incompetence the board of directors should be fired and their pay should be rescinded.
The O-level managers shouldn't get any bonuses and their pay should be cut to ~5 times the salary of the lowest payed employees.
The CEO should be replaced by someone who cares more about sales than stock prices and who has worked in all phases of the company's core business. The company should go through financial and program audits and a schedule should be created for fixing any problems found.
And in any case, the 'loan' should be repaid with interest, even if the problem was unavoidable.
If these things aren't done it doesn't matter who owns the company.
@usluck ...capitalists that privatize their profits shapeshift into communists that socialize their losses...
@usluck of course you can.
In fact, as the purpose of the state is to serve the capital, and only the capital, it must socialize the losses
yes, nobody notices the robbers barons robbing as per tautology ...