Nearly half the money — $143 billion — went to holding companies for the two major banks that failed over the past week, Silicon Valley Bank and Signature Bank, triggering widespread alarm in financial markets.
For my money a bailout is when somebody outside a system comes in and prevents it collapsing, and bailouts themselves are value neutral. For example, in 2008 the government could have bailed out the mortgage industry by just paying people's mortgages and giving them the deeds, which would have been a good bailout, but they instead gave the money to the banks and millions got foreclosed on, a bad bailout.
This particular one is pretty bad in context. The government's over here squeezing workers with the interest rate rise, meanwhile for the wealthy the money tap truly hasn't been turned off.
For my money a bailout is when somebody outside a system comes in and prevents it collapsing, and bailouts themselves are value neutral. For example, in 2008 the government could have bailed out the mortgage industry by just paying people's mortgages and giving them the deeds, which would have been a good bailout, but they instead gave the money to the banks and millions got foreclosed on, a bad bailout.
This particular one is pretty bad in context. The government's over here squeezing workers with the interest rate rise, meanwhile for the wealthy the money tap truly hasn't been turned off.