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The ultra rich have a direct line to the people who decide how these laws work. There are commonly-known, well-documented ways to shield your assets from bankru
by reverendsteveii 2y ago
The ultra rich have a direct line to the people who decide how these laws work. There are commonly-known, well-documented ways to shield your assets from bankruptcy or from judgments, and no one will do anything about them because they can't risk losing the support of the oligarchy.
- NotYourLawyer 2y agoOligarchs don’t declare bankruptcy very often.
- reverendsteveii 2y agonot personally, but their businesses do pretty regularly. to them it's just a tactic, a way to fail upward
- NotYourLawyer 2y agoBusiness bankruptcies almost inevitably wipe out the shareholders in favor of the creditors. That wouldn’t do any good for the “oligarch” owners.