The auto one is a bit different. The bailout was the government basically buying the two companies, keeping it running, and later selling for a profit. Lots of rich people lost their shares for pennies on the dollar. I don't remember if the c suite lost any jobs or not.
i dont know about the airline one, but many of the individual bank bailouts ended up profitable. we lost quite a lot in the UK but mainly from one bank (NatWest) and if we'd kept the shares longer we could have pretty much broken even.
essentially the bailouts involve the purchasing of shares or assets which i think a lot of people miss, and think money is just being handed over to companies. this did happen with PPP loans but they were meant to pay salaries, it was just a quickly introduced scheme that got mismanaged and taken abuse of.
48
u/Norse_By_North_West 6h ago
The auto one is a bit different. The bailout was the government basically buying the two companies, keeping it running, and later selling for a profit. Lots of rich people lost their shares for pennies on the dollar. I don't remember if the c suite lost any jobs or not.