this post was submitted on 05 Jan 2024
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Nationalize them and turn the former business into a 501:c3. Also fire the entire C-Suite, with cause to prevent any golden parachute payments.
But I was told that the rich leaders take risks!
…right?
Sure they do. With your pension they are bold.
What if we just give every American a portion of the company that we bailed out?
Eventually the average American would own stocks in many different banks.
Eventually the American people will have majority share, at that point we vote on the actions of the bank as if we were the board.
A sovereign fund will be easier to administer. Issuing individual shares to people directly would be an administrative nightmare.
Allow the sovereign fund to acquire the shares, and then we can vote as board members in a national vote, though we'd probably just elect a representative for the fund.
Fuck all this representative bullshit. They never actually represent us.
That sounds like a great plan to have the money squandered.
Maybe the dividend is just applied towards your tax return, that would reduce the complexity of issuing 350k shares. I don't want politicians getting their grubby hands on the money.