Quote:My complaint is more in the way in which the bankruptcy is being orchestrated by the US government. The way bankruptcy is supposed to work is that the beneficiary should be the former stock and bond holders, and not Fiat, or the US government.If you invest in a company that ends up floating upside down in the fishtank, you lose. Big time. That's what having skin in the game means.
And the government isn't a beneficiary of anything. They're buyers. They've poured gadrillions of dollars into this. What would be criminal is if the taxpayers got nothing for that money. Otherwise, this is a bailout of stockholders who made crappy decisions, which is a bad idea, to say the least.
I would have let the dinosaurs die, but if they're going to be kept alive, that comes with a price.
-Jester