Bizarro Capitalism

When nationalized industries profit, taxpayers win!

Some one's gonna buy the paper at 25 cents on the dollar, work it out, ride the economy and housing recovery up, then sell the paper for a handsome profit. Most of that profit will go to the government, aka the taxpayer.

Here's an idea: we could cover the $700 billion bailout AND pay down the national debt if we just nationalize a few more industries in addition to finance. Once the government gets those industries under control and commands them to operate at greater efficiency and greater profitability than the private market ever could, the additional profits gained will be a net boon to taxpayers. Who could complain? It's a win-win for everyone. The only question remaining is: why didn't anyone think of doing this earlier?

via IOZ, who asks:

What fucking mechanism is supposed to drive up the market value of debt-backed pseudoassets that were written off without loss because the government airdropped suitcases of cash?

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People talking about the profits to be had

These idiots apparently don't realize that the people who have to pay these debts are already up to their necks. With the government paying for these with new cash it means inflation and taxes will go up. Then the debtors balance sheets will be even worse and they will be even less likely to pay.

This paper is worthless and will be more worthless in the future. That's why these rich fucks are trying to offload it on the taxpayer.