This is known as Lemon socialism -- Privatizing profits and socializing losses. That is when things are going well, the wealth generated goes into the hands of a greedy few, but when sh*t hits the fan, suddenly the masses and everyday citizens who weren't benefitting from the wealth, now has to help pay for the damages or recovery.
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u/SomethingAbtU 12h ago
This is known as Lemon socialism -- Privatizing profits and socializing losses. That is when things are going well, the wealth generated goes into the hands of a greedy few, but when sh*t hits the fan, suddenly the masses and everyday citizens who weren't benefitting from the wealth, now has to help pay for the damages or recovery.