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Everything posted by b_m_b_m_b_m
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The Official Thread of Systemic Racism
b_m_b_m_b_m replied to SuperSpreader's topic in The Political Re-Education Camp
Very normal thing to do, def. not sexual harassment or intimidation. -
The Official Thread of Systemic Racism
b_m_b_m_b_m replied to SuperSpreader's topic in The Political Re-Education Camp
Got a precrime unit here in Richmond, but only seems to go after reporters. -
Keep cars out of cities
b_m_b_m_b_m replied to thewhyteboar's topic in The Political Re-Education Camp
Ban all trucks, but especially from cities -
John Lewis has passed away
b_m_b_m_b_m replied to thewhyteboar's topic in The Political Re-Education Camp
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~2020 Hurricane Season Thread~
b_m_b_m_b_m replied to Ricofoley's topic in The Political Re-Education Camp
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The Official Thread of Systemic Racism
b_m_b_m_b_m replied to SuperSpreader's topic in The Political Re-Education Camp
Collective sun poisoning -
It's not about making money, it's about mitigating risk. Right now all the risk is held by the public and it isn't mitigated in any way other than the interest to the loan, which over the whole of the program doesn't adequately cover losses. We can just give out grants or wholly forgiveable loans (like the PPP!) if we're not concerned with losses or mitigating risk to taxpayers. And if we don't care about these losses, why not just create a literal government electric car company?! It would accomplish the same goals as you've outlined but without some dude becoming a billionaire in the process! A Tennessee Valley Authority but for electric cars. Ultimately I think there is benefit to having the taxpayers get actual return for its investment, when it comes to specific companies and technologies that it invests in
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0, just about what we got out of Solyndra, where we're out $500million+ The point is you win big, or even moderately, on a couple of good companies (like if we got equity from Tesla) and that makes up for the massive losses (even if we got equity in Solyndra for example) But you'd need a whole lot of paid back wins at 3-4% to make up for even one failure The difference is similar downsides (taxpayer holding the bag) but far better upsides (taxpayer makes substantial return) when you get equity We shouldn't be socializing the losses and completely privatizing the success
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The goal should be to not leave the taxpayer on the hook for losses of the inevitable business that fails, like Solyndra. There is a good in the government being able to provide loans! But there is a smart way to do it, and is to the benefit of taxpayers. The way we do it now is privatizing success and making public the loss.
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This is what we already do for companies that fail after the government gives loans, and it sucks. We get equity in failure, and merely a repaid subsidized loan from successful companies. If an investment firm did this they'd be out of business because the reward of a successful company is supposed to balance out losses from businesses that don't make it. There's no startup company that can get a loan from a private source that doesn't require equity. This wasn't today's Tesla looking for a short term loan. I mean, shit, it's the justification that capital uses to syphon the surplus value, in that the investors take a cut of profit because they are the "only" ones taking a risk (as workers are paid a mere wage for the risk they take on) If the government was even given just 5% of the shares offered at the IPO and at that price of 17/share and held it to today, they would have doubled their money. Instead, this value is kept in private hands, despite being invested in by the government at the time. And hell, mere months later in May 2010 Toyota got ***2.5%*** of Tesla for $50 million. At this valuation, the government should have had a ***23.25%*** stake in Tesla, if not more as the loan itself made the company more viable and valuable than before. Get the fuck outta here with this paid back the loan bullshit, this is the picking winners and losers bullshit that you libertarians love to wax poetic about, and the taxpayers subsidizing a fucking billionaires private business venture, where the taxpayers took on the nearly half a billion dollar risk and got very little reward in return. We shouldn't be giving no strings attached loans, we should be getting equity in return for taxpayer risk.