I think what the person meant in spirit is aligned with what happened in practic... | Hacker News

Hacker News new | past | comments | ask | show | jobs | submit

login

aaronblohowiak on April 9, 2020 | parent | context | favorite | on: Fed to buy junk bonds, lend to states in fresh vir...

I think what the person meant in spirit is aligned with what happened in practice — GM’s shareholders were wiped out and the government (through chapter 11 restructuring and investment) ensured it was a going concern and had a subsequent IPO (privitization) ..

toomuchtodo on April 9, 2020 [–]

Yep, exactly, although privatization isn’t a necessary component (Fannie and Freddie mortgage GSEs have been held onto as a public good).

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact