https://pjmedia.com/richardfernandez/2012/02/22/just-so-2/feed/PJ Media is a leading news site covering culture, politics, faith, homeland security, and more. Our reporters and columnists provide original, in-depth analysis from a variety of perspectives.en-usWed, 10 Jun 2026 00:57:18 -0400<![CDATA[The chief argument against bailouts is they &#8220;privatize profits and socialize costs&#8221;. &#8220;In the financial language of options, &#8220;socializing losses&#8221; corresponds to private firms having a put option from the government: if they lose, the government will cover their losses.&#8221; For this to happen of course government must be involved in the economy. And a lot of people like it that way. But once certain activities are deemed too important to be left to the market or &#8220;too big to fail&#8221;, the public purse because commingled with the private.]]>Wed, 22 Feb 2012 22:44:15 -0500<![CDATA[Richard Fernandez]]>https://pjmedia.com/richard-fernandez/2012/02/22/just-so-2-n191445