This is like me taking out a loan to buy a car and then expecting the car to make the payment.

It’s even worse than that. Imagine you bought a car from a dealership and were making monthly payments on it. I take a loan to buy your debt from the car dealership, sell your car to pay my loan off, and then expect you to continue making your monthly car payments to me. You file bankruptcy to get out from under the debt, but by then I’ve pocketed months or years of your car payments and come out with a tidy profit.

And then I do it to hundreds of other people, over and over again, as long as other rich people are willing to loan me money. Which of course they are, because running companies into bankruptcy is incredibly profitable.

Something something road to serfdom.

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