The pandemic costs: Who bears the risk?
A look at the huge financial commitment One of the criticisms of the 2008 bank bailouts was that banks had privatised the profits but nationalised the losses. It wasn’t entirely accurate: shareholders and plenty of bank staff lost money and jobs. Had banks failed, plenty of other businesses would have failed too. But it was broadly true. Those whose key job it was to manage risk failed abysmally, took insane risks, pocketed unjustifiably high rewards which did not accurately reflect…