Late Sunday night, one of the biggest travel agencies in United Kingdom collapsed. Thomas Cook had been in trouble for years, and a large chunk of its revenue was spent paying down the problem debt the company had accumulated.

Most of the media coverage focused on the huge number of customers affected: hundreds of thousands were stranded abroad, and airports were in chaos as people desperately tried to return home while planes were grounded. But 21,000 people also lost their jobs in a heartbeat: the company still maintains a large presence in streets throughout Britain’s cities and towns, and many people are suddenly faced with fear and financial ruin after the government refused to inject the £200 million that would have saved the company.

Boris Johnson’s government must now foot the bill for repatriating the stranded, even before the economic cost of so many job losses is factored in: hedge funds had bet on the company’s collapse and are estimated to have netted $250 million from credit default swaps, so the already wealthy have profited from the misfortune and misery of those far poorer than themselves.