Actually, left-wingers and right-wingers both agree that we shouldn't bail out large corporations. But where we disagree is on solutions to prevent it from recurring. See here if you prefer audio / visual explanation:
https://youtu.be/GT1WqIkg9esRight wing theory is to just "accept the pain." Let them fail. Yes, it will hurt everyone economically in the short run, but if you don't allow that economic pain in the short term. . . you are only creating a monster in the long term.
Left wing theory is to bail them out, but then try and put more and more regulations on the banks to try and prevent them from taking excessive risks in the future.
Right wing theorists counter that this will never work. Human evil will simply find some kind of legal sophistry to navigate around these regulations. Only once the big banks realize that we
will let them fail, no matter how much it hurts, will the banks begin to police
themselves.
The same is true of Greece and Puerto Rico.
Don't bail them out. Let them serve as examples, and warnings, to everyone else what happens if you don't practice conservative fiscal policies. I understand the left-wing finds this "heartless." But you only end up creating a monster over the long term if you enable bad, irresponsible, behavior.
Again. It's sort of like my alcoholism (I always like to use it as an example because I feel it drives the point home). If I had been surrounded by enablers. . . I never would have gotten better. Left-wing theorists, while well intentioned, simply don't understand the power of teaching people to govern
themselves. And part of that means
allowing them to fail. Offer them help. . . but don't
enable their irresponsible behavior.
Allow people, and companies, and States, and Nations (no matter how big) to suffer the natural consequences of irresponsible, fiscally non-conservative, behavior.
Of course, "Big Bank" lobbyists don't like this idea at all. . . and they donate a lot of money to politicians (both right and left) all over the world.
