Re:Yellen says government will help SVB depositors but rules...
by wpietri on Sunday March 12, 2023 @03:13PM
(#35124800)
That looks to be an unlikely scenario, but let's indulge it.
Can capitalism be pretty harsh on workers? Sure. 1-2 million people get laid off or let go every month, and it's been that way for a long time: https://fred.stlouisfed.org/series/JTSLDL
Does that suck? Speaking from experience, yes. Should the federal government subsidize startups and/or their funders to save a few thousand jobs? Absolutely not.
If we want to spend billions on a better social safety net, let's do it for everybody, not some unprofitable companies whose investors don't see them as worth saving.
Can capitalism be pretty harsh on workers? Sure. 1-2 million people get laid off or let go every month, and it's been that way for a long time: https://fred.stlouisfed.org/series/JTSLDL
Does that suck? Speaking from experience, yes. Should the federal government subsidize startups and/or their funders to save a few thousand jobs? Absolutely not.
If we want to spend billions on a better social safety net, let's do it for everybody, not some unprofitable companies whose investors don't see them as worth saving.