Remember TARP in the USA. Bush & buddies sucked the economy dry, and US politicians pumped public funds to private businesses with the Emergency Economic Stabilization Act of 2008. Democrat & Republican corporate flunkies in Congress helped big capital & rich friends w/ public money (and few requirements). They basically stole from mid-level workers (who'd take-over with slimmer corporations) and smaller businesses (who'd salvage from the corporate carcass). Bailouts alter industrial ecology.
155,000 UK travelers and 500,000 from elsewhere are in trouble. Thomas Cook has not paid for most services provided to them over the summer, damaging small businesses worldwide.
😞 UK reputation drops. A British government "shadow airline" will repatriate 155,000 UK tourists:
https://www.bbc.com/news/business-49796827
Governments around the world are now using public funds to fly home holidaymakers stranded in exotic locations. If passengers had each paid an extra $500, they'd have private insurance, or maybe the UK travel firm might not have collapsed. The public should NOT pay for such private mistakes.
