https://blogs.lotterypost.com/konane/2020/4/let-them-fail-billionaire-explains-to-gob.htm konane's Blog: "Let Them Fail" - Billionaire Explains To Gobsmacked CNBC Host How Capitalism Is Supposed To Work en-us Lottery Post RSS Generator https://blogs.lotterypost.com/konane/2020/4/let-them-fail-billionaire-explains-to-gob.htm https://blogs.lotterypost.com/konane/2020/4/let-them-fail-billionaire-explains-to-gob.htm Fri, 10 Apr 2020 03:09:09 GMT konane 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

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