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What's so incredible to me about this is it is only when people suggest leaving literal billionaires out in the cold that the corrupt and shameless media whines about being "left behind."
How dare anyone compare these criminal sociopaths to those actually suffering right now. https://twitter.com/rafaelshimunov/status/1248546332056444931
How dare anyone compare these criminal sociopaths to those actually suffering right now. https://twitter.com/rafaelshimunov/status/1248546332056444931
As to what @chamath says it's not entirely true. Unfortunately the protections set up in corporate bankruptcy, either Ch. 7 or 11, are not always followed and unsecured creditors like PE firms have tricks to get to the front of the line (especially but not limited to refinancing)
That of course has been readily apparent to anyone following the bankruptcy of Blackjewel and other mining companies, and historic examples like bankruptcy auction of Delphi Automotive Corporation stock, which was bought by PE and hedge funds, cutting pensions of 20,000 workers.
I'm glad that anyone is saying screw this people and their vacations to the Hamptons, but bankruptcy law as it currently exists (particularly the large amount of discretion given to judges who have little to no interest in protecting workers) will not protect workers or pensions.
This is why @SenWarren has proposed bankruptcy reforms in her Stop Wall Street Looting Act. That's great, but I think only way to stop this with certainty is facilitating a transition to worker ownership through Right to Own, starving PE and hedge funds. https://medium.com/@EmmaCaterine/what-will-it-take-to-stop-wall-street-looting-26aaf3469eba
