Whats the point of good corporate governance and fiscal responsibility? The companies that leveraged themselves to the moon, did stock buybacks to hyper-inflate their stock price, live on constant debt instead of good balance sheets are now being bailed out by unlimited QE. Free money to cover your mistakes. Why would anyone run a good business ever again? Just cheat and scheme and get bailed out later.
PE, hedgies, shady billionaires were screwed because the economy just halted and companies were going to default on these risky loans since they had no revenue coming in. This is who JPow is helping. He just bailed them all out by buying these risky junk bonds on the back of the American tax payer. You may become homeless and starve, but private equity, hedge fund managers, and shady billionaires will be made whole by the fed.
This is literally the premise understood after the 2008 financial crisis bailouts. Plus, overleveraged companies outperform in boom markets thus overtaking or pushing out “responsible” peers. Meanwhile they get shit on in downturns and propped up with bailouts and money printers. The only lesson to be learned is that taxpayers always foot the bill.
How long are US tax payers willing to take it in the ass for the benefit of the 1%? This is now Russia level of getting fucked in the ass by the government (stealing from tax payers and routing that money towards politicians and big companies based in cayman islands..)
But hey, at least (part of) middle class got that below minimum wage check for 1200usd - that should keep you warm for a minute.
USA today > cut throat capitalism for the poor, socialism for big companies on the backs of the workers
