Quote (Scaly @ Apr 14 2017 07:14pm)
What if 4 of them go bankrupt?
What if 4 of them go bankrupt and several others defraud the public?
What if 4 of them go bankrupt, several others defraud the public and the guy at the top is a babbling retard without the ability to construct a coherent sentence?
And what if he has a gazillion of them and bankruptcy laws are a tool used to restructure?
Snopes coming in hot:
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Many people tend to view all bankruptcies as something like the denouement of a game of Monopoly: “Ha-ha, you ran out of money! Game over. You lose!”
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Bankruptcy Is Not Synonymous with Failure
Although a corporate bankruptcy filing often indicates that a business is in a perilous financial condition, it doesn’t necessarily sound the death knell for that business. The provisions of Chapter 11 of the U.S. Bankruptcy Code allow businesses to find ways to reduce their debt and restructure their operations without having to be shut down and liquidated to satisfy debts — instead of closing their doors, businesses can stay open, pay their employees, and take in revenue while developing a budget and a repayment plan for creditors (subject to the approval of the bankruptcy court).
Many of the United States’ largest and most prominent businesses have filed for (and emerged from) Chapter 11 bankruptcy protection one or more times, including General Motors, Charter Communications, Delta Air Lines, Kmart, Macy’s, and the Texas Rangers baseball team.