Concept and Relations Matrix: Lipstick on a Pig (Finance)

Cluster	Concept	English term	Main link
Structural critique	Superficial Reform	Lipstick on a Pig	Bank Bailouts
Intervention policy	Bank Bailouts	Bail-outs	Privatization of Gains and Socialization of Losses
Distribution	Privatization of Gains and Socialization of Losses	Socialization of Losses	Valuation of Bailouts
Cost assessment	Valuation of Bailouts	Fair Value Costs	Direct Beneficiaries of Bailouts
Benefit distribution	Direct Beneficiaries of Bailouts	Direct Beneficiaries	Public Interest Representation
Macro risk	Bank–Sovereign Doom Loop	Bank-Sovereign Doom Loop	Bank Bailouts
Incentives	Moral Hazard	Moral Hazard	Too Big to Fail (TBTF)
Market concentration	Too Big to Fail (TBTF)	Too Big to Fail	Orderly Resolution of Failing Banks
Alternative governance	Democratic Buyout	Public Ownership	Boring Banking
Social action	Community Organizing	People Power	Civil Society Organizations
Representation	Public Interest Representation	Public Interest Representation	Free Riders
Leadership	Marshall Ganz	Public Narrative	Community Organizing
Value	Broader Value Beyond GDP	Beyond GDP	Boring Banking
Institutional design	Institutions vs. Facilitators	Institutions vs Facilitators	Bottom-up Institutional Change

The main conceptual loop

flowchart TD
 A[Bailout] --> B[Distribution of risk and loss]
 B --> C[Possible moral hazard]
 C --> D[Systemic risk and TBTF]
 D --> E[Need for regulation and resolution]
 E --> F[Debate on public ownership and public representation]
 F --> G[Organising and people power]

This diagram is an analytical synthesis of the concepts and secondary sources; it is not the author’s official diagram.