Entrepreneur and “shark” investor Mark Cuban is offering his outlook on the global financial crisis. The outspoken crypto critic, who has said he would rather buy bananas than Bitcoin, also sheds light on what it would take to change his mind on emerging crypto assets.
In a new interview on the Pomp Podcast with Anthony Pompliano, Cuban says he believes the government should bail out huge corporations that need cash to survive, but only if the American taxpayer reaps the rewards.
“If a company’s been impacted dramatically, like we’ve seen with airlines, like we’ve seen in the wedding industry, like we’ve seen with cruise lines, I’m not opposed to them going to the government for help. But when you give help, when you effectively invest in a company, whether it’s taxpayer money or my money or your money, you want something back. It’s never a gift.
In this particular case, I think any company of a specific size – small companies we’ll set aside as a different example – but for larger companies, if we’re investing in them, I want it to be an investment and not a gift. I want something in return.
We’ve seen what Warren Buffet has done with Bank of America and Goldman Sachs. He gave them money. It was preferred stock plus he got warrants. He made a boatload of money afterwards. Why can’t the American treasury do the exact same thing? The American taxpayers deserve that and by doing that, we bring back the American economy much more quickly.”
As for concerns about the government’s increasing push to print relief money out of thin air, Cuban says it’s a necessary evil to keep the gears of the economy in motion. As for the potential repercussions in the long run, he says we’ll find out sooner or later.
“This is a real world experiment. But the other side of the coin is, you know what happens if you don’t. If all these companies and organizations can’t pay their bills, like the MTA, like…