Politics
Out of context: Reply #5641
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- TheBlueOne0
A) The government already plays favorites with the market. Always has, always will. To expect some sort of Platonic "perfect circle" with respect to government/market interaction like libertarians seem to strikes me as incredibly naive and favors the map over the territory and opens you up to simplistic zero sum thinking and inaction.
b) Bak nationalizations - where defaulted banks remaining assets are seized by the government, assessed for value and resold to the market and the bank corporation is either resold to the private market or liquidated is a normal feature of modern market capitalism. The system wouldn't work otherwise. What do you think the FDIC does with smaller banks? It is the very same mechanism with personal bankruptcies to a large extent, which is a feature and not a bug of the American political economy since day one.
The process of nationalizing a bank because it is insolvent is not socialism. Not.