konane's Blog

"Let Them Fail" - Billionaire Explains To Gobsmacked CNBC Host How Capitalism Is Supposed To Work

Too big to fail, nah. Let them bankrupt and reorganize. Below is an article linked in the original article.

"Let Them Fail" - Billionaire Explains To Gobsmacked CNBC Host How Capitalism Is Supposed To Work

"This is a lie that's been propagated by Wall Street. When a company fails, it does not fire its employees...it goes through a packaged bankruptcy...if anything, what happens is the employees end up owning more of the company. The people who get wiped out are the people who own the unsecured debt and the equity...but the employees don't get wiped out  and the pensions don't get wiped out."

[...]

"And if a bunch of hedge funds get wiped out - what's the big deal? Let them fail. So they don't get the summer in the Hamptons - who cares."

https://www.zerohedge.com/markets/let-them-fail-facebook-investor-explains-stunned-cnbc-host-why-us-should-bail-out-people

 

Corporate bankruptcy: An overview

https://www.investopedia.com/articles/01/120501.asp

Entry #6,709

Donald Trump Announces Hold on World Health Organization Funding

I hope funding is frozen. 

Donald Trump Announces Hold on World Health Organization Funding

"....  The president noted that the World Health Organization receives more from the United States than any other country, and would require accounting for their failure to properly alarm the world about the coronavirus outbreak.

“We want to look into the World Health Organization because they really called it wrong,” Trump said. “They missed the call, they could have called it months earlier, they would have known, they should have known, and they probably did know.”

The president noted that the WHO actually criticized his travel ban from China that he set in late January. ....."

https://www.breitbart.com/politics/2020/04/07/donald-trump-announces-hold-on-world-health-organization-funding/

Entry #6,701