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Bankruptcy doesn't mean the company's assets are thrown in the trash. It just means the current equity & bond holders get rinsed. Other presumably smarter peopl
by ahelwer 7y ago
Bankruptcy doesn't mean the company's assets are thrown in the trash. It just means the current equity & bond holders get rinsed. Other presumably smarter people can then come in and run the company.
- toomuchtodo 7y agoThey mustn’t even be smarter, simply more ethical and responsible.
- dragonwriter 7y agoThey needn’t even be more ethical and responsible, either. Calvinist mythology aside, financial success isn't a symptom of moral virtue.
- akiselev 7y agoIsn't the nature of a bankruptcy largely at the discretion of a judge?