Comment by yellowapple
16 hours ago
> When they badly, badly screw up, they just get bailed out with public funds
When this happens, I think it's only fair that the bailed-out company becomes publicly owned. If I'm forced to invest in a company with my tax dollars, then I damn well better be treated as an investor. Where are my shares? Where are my dividends?
When the USG bailed out banks via TARP during the 2008 financial crisis, it did so by buying shares in those companies. It later sold those shares for a $30.5 billion profit.
If GMC had been “publically owned” it would have been gutted for profits (kickbacks) by its bureaucracy and politicians and been long dead by at least a decade. Bureaucrats are not good at running companies and private companies should not be providing public services (prisons, toll roads). I don't know why Americans have become so unpragmatic and either all in on “government doing everything” or “private corps doing everything” when life is never ever that simple.