the banking industry has been heavily subsidized by FDIC, the Fed, and bailouts.... | Hacker News

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		abfan1127 on May 1, 2023 \| parent \| context \| favorite \| on: JPMorgan Chase Bank Assumes All the Deposits of Fi... the banking industry has been heavily subsidized by FDIC, the Fed, and bailouts. This corporate socialization is certainly worse than either fully capitalist or fully centralized.

largepeepee on May 1, 2023 [–]

That is modern capitalism at its finest.

Privatize the gains, socialize the losses.

_heimdall on May 2, 2023 | [–]

That's really not capitalism at all.

largepeepee on May 2, 2023 | | [–]

That is how capitalism works in reality.

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