See where Congress passed a two billion dollar bill to relieve bankers’ mistakes and loan to new industries. You can always count on us helping those who have lost part of their fortune, but our whole history records nary a case where the loan was for the man who had absolutely nothing.
Our theory is to help those along who can get along even if they don’t get it.
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bailout
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The entrepreneur, in the classic image, was supposed to have taken a risk, not only with his money but with his very career; but once the founder of a business has taken the big jump he does not usually take serious risks as he comes to enjoy the accumulation of advantages that lead him into great fortune. If there is any risk, someone else is usually taking it. Of late, that someone else […] has been the government of the United States. If a middle-class businessman is in debt for $50,000, he may well be in trouble. But if a man manages to get into debt for $2 million, his creditors, if they can, may well find it convenient to produce chances for his making money in order to repay them.
C. Wright Mills (1916-1962) American sociologist, academic, author [Charles Wright Mills]
The Power Elite (1956)
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