"Let Them Fail" - Billionaire Explains To Gobsmacked CNBC Host How Capitalism Is Supposed To Work

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Leftist asshats? You do realize that the right, the Republicans, love to bail out the big corporations too, right? You can try to pin a lot of stuff on the left, but not this one.

Guess what happens when the big corporations fail??

small business fills in the gap

Interesting the way that idiotic liberalism - and all the knuckleheaded left-leaning feelings that cause it - also induces drowsiness or sleepiness.

No wonder your types are so fucked in the head from a lack of honesty, common sense and basic integrity.

What the hell is wrong with you?

I wouldn't mind that if that were true. But look at the idiotic, US-hating leftist named Barack Obama. He sure as hell wasn't a conservative Republican. But Obama was notorious for kissing up to the elite of Wall Street, many of them fitting the category of tricky, unethical, conniving Limousine Liberals (Bernie Madoff was known to be a dyed-in-the-wool liberal) and Champagne Socialists (George Soros is a devout member).

What exactly are people of the left good for? They're fucked - and they fuck the public - coming and going.

With millions of Americans sitting at home working on their laptops, the passive viewership of cable news channels like CNBC must be waaaay up this month, as finance nerds welcome normies to the strange and often hilarious world of live markets news.
In terms of drama, CNBC is usually pretty staid. But every once in a while, there's a fight, or a contentious interview, that really grabs people's attention. On Thursday, such a confrontation occurred during "the Halftime Report" as Scott "The Judge" Wapner interviewed early Facebook investor and uber-wealthy VC investor Chamath Palihapitiya.
Wapner brought up the question of the bailouts for main street and corporate America that the Trump Administration has packaged as part of its $2.2 trillion plan. Palihapitiya raised an issue with the program, arguing that the administration would be using taxpayer money to prop up "zombie companies."


Then Wapner asked: "Are you arguing to let airlines fail?
Palihapitiya, who was speaking on the phone, responded with a very assertive "Yes."
Wapner seemed blown away by this. Struggling to process the answer he had just been given, he followed-up, incredulously: "But how does that make sense in the broader scheme of the economy."
Then Palihapitiya went off.

"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."




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He’s totally right.

This is true, bankruptcy should be an option, not my money to fix this.

About a few things but CNBC stooge is not having it!

He is NOT right because he's talking about companies being deliberately driven out of business by communists running this scamdemic. That is NOT the same as a business simply failing on it's own.

By bailing everyone out they dont let capital ism to work. It's common sense.