This bailout is justified, as always, to save the system; but with an added justification not available in 2008: It wasn't their fault. The large corporate entities claiming a bailout didn't create this crisis in the first place. Nobody could have seen the pandemic coming, they plead. But it was their fault in not following the most basic risk-management precautions by keeping a reserve for any type of downturn.
When Extraction Began to Trump Caution
The Economic Policy Institute graft, below, shows how government policies reduced economic inequality after the Roaring Twenties, but how inequality increased after the 1970s. The wealthy successfully fought back with new methods starting then. Most readers will be familiar with corporate lawyer Lewis Powell's memo in 1971. (Nixon rewarded him a scant two months later with an appointment to the US Supreme Court for his efforts on behalf of the wealth class.) It was a call to arms against the gains made in the 1960s by consumer and environmental groups that were cutting into corporate profits. Powell delineated a strategy that has proven highly effective--but those were by visible means. Invisible methods, by which I mean tactics of which the general public is unaware, were also employed. For those who doubt that this could be happening in America, I recommend reading what
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