Governments used to be bigger than corporations. Used to look after their citizens. Corporations their shareholders (CEO’s!).
In the 21st Century corporations became bigger than governments. Governments handed the care of their citizens over to corporations. Now countries as well as companies and people going bankrupt.
Of the 14 listed bailouts/bankruptcies here, Apple could bail out 8 of them – probably another 2 in a little while!
I included Australia’s biggest home grown corporate collapse, Ansett, embarrassingly small! A good thing.
Pmf Legal Limited
PS – which companies and countries? Lehman Brothers, Washington Mutual, American International Group Inc, AIG, Chrysler, General Motors, GM, Greece, Fannie Mae, Freddie Mac, Portugal ,WorldCom, Enron, Conseco, Citigroup, Apple, MF Global, Thornburg Mortgage, Ansett Australia
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