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A comment on Elon Musk moves to Texas. Parent comment

Re:Elon Musk moves to Texas by gradys on Wednesday December 09, 2020 @10:48AM (#25359767)
Why does taking private loans against his private assets count as socializing risk? The banks he gets these loans from understand the risk and do not represent "society".
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Re:Elon Musk moves to Texas by InitialLastName on Wednesday December 09, 2020 @12:32PM (#25361145)
As we've seen, when banks' habits of making bad loans catch up with them they tend to get bailed out by the federal government.
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Re:Elon Musk moves to Texas by gradys on Wednesday December 09, 2020 @01:40PM (#25362238)
If you mean 2008, yeah, you're right, but those were mostly loans to relatively low income people buying homes, not loans against billionaires' unrealized capital gains.
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Re:Elon Musk moves to Texas by sidlls on Wednesday December 09, 2020 @04:52PM (#25365753)
Those were mostly covering obligations in the huge CDS market that grew up around bad loans, not the loans themselves.
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