Expect no gov’t bailout

MSNBC anchor Stephanie Ruhle voiced little sympathy for crypto investors crushed by this week’s collapse in digital coins.

“If you lose your shirt, hope you got a six-pack,” Ruhle said.

“The 11th Hour” host, a former investment banker, also told crypto investors not to expect any government relief, saying they have only themselves to blame for buying the unstable currency.

“Let’s remember: The entire basis of crypto is secrecy. It is decentralization. It’s ‘Don’t tread on me. I don’t want the government. I don’t want establishment,’ so this is very much a ‘Buyer beware’ [situation],” she said, in comments reported by Mediaite.

Ruhle said the collapse of the crypto market is different from 2008, when large firms went under and needed to be bailed out.

“You won’t have institutions at risk here, but millions and millions of individuals, many of whom have never invested in the markets, many of whom have borrowed to bet big in crypto, losing enormous amounts of money, so what’s going to happen?” Ruhle said.

“Are people going to turn around and say, ‘The government needs to help me. I need to be bailed out for this’?”