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Ocasio-Cortez Says ‘We Should Not Be Entertaining a Bailout’ of AI Industry as Bubble Fears Grow
(www.commondreams.org)
this post was submitted on 19 Nov 2025
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politics
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The problem is most Americans with retirement savings are shareholders of these tech companies whether they know it or not. My mom lost a HUGE part of her retirement savings when WorldCom went under and was never able to recover from it and is now in her mid 70s and still has to work full time. She's almost blind and can hardly walk and she's worked her whole life and tried to do everything right but her financial advisor was giving her what was thought to be good, safe advice in the early 2000s and completely changed how her twilight years are playing out.
That sucks, but we're not a real economy if we just keep bad companies afloat because people have invested in them. We certainly don't need to filter any aid to unfortunate retirees in need through the stock market.
"Retirement savings" are a scam.
They shift the social responsibility of caring for those who cannot work for pay into a personal responsibility. Retirement should not be something that you have to save for by bending over backwards for corporate overlords to get a well-paying job and putting away a tiny share of your tiny share of the profits for later. Retirement should be part of a robust social safety net. People should be cared for in their old age (and at every age) regardless of whether they would be able to earn enough wages to put away retirement savings.
To younger generations, the idea of retirement savings is laughable. Not just because it's so far away and it's dubious whether society will even last that long, but because the social safety net is in such a bad state that able-bodied young people are suffering at a massive scale right now. We aren't even earning enough to pay our cost of living, let alone retirement savings. The system is deeply broken and needs much deeper and much wider fixes than a bailout only for those lucky enough to have retirement savings in the first place. Not to mention that most of the bailout money would go to the wealthier shareholders that have more shares.
We need the rich to be taxed much more and for money to be distributed as aid to all who need it, not just those who have retirement savings at stake.