Representatives Casar and Waters Lead Democratic Resolution Opposing Bailouts for Big Tech's AI Bubble

Progressive U.S. Congressmembers Greg Casar and Maxine Waters jointly introduced a resolution warning of the economic risks of an AI-related asset bubble, opposing bailouts for companies and their executives hit by the bubble's bursting, and advocating that failed companies go through bankruptcy proceedings and be held accountable for fraud. The resolution notes that AI companies hold trillions of dollars in debt and that stock market price-to-earnings ratios have approached the peak of the 1990s tech bubble, and calls for federal funds to be redirected toward protecting workers, retirees, and low-income groups.