[PeterFinn]

But will it be harder for corporations and businesses to file bankruptcy?

[newfarm4000n]

But will it be harder for corporations and businesses to file bankruptcy?


What part of "Limited Liability" do you not understand ?? Are you a socialist sleeper ??

[newfarm4000n]

Ignore the socialist sleeper bit . sorry.

[FreePaul]

But will it be harder for corporations and businesses to file bankruptcy?

I doubt it. Those companies who want to will still hire the high powered lawyers to help them plan their bankruptcy to their maximum benefit.

[hsmomx3]

How many times has someone such as Donald Trump filed for BK? I'll bet businesses file all the time!

[A. Pole]

But will it be harder for corporations and businesses to file bankruptcy?

Of course not! This bill is to benefit corporations.

[middie]

No. In fact it will facilitate corporations that want to restructure their debt and delay repayment on a schedule. This bill is one the worst pieces of public policy ever enacted. It benefits only the wealthiest creditors and prevents the accomplishment of the very idea that underlay bankruptcy. When we abolished debtor prisons in the early days of the U.S. it was a recognition that there are some instances where the continuation of life and economic productivity is impossible without judicial relief preventing the obtaining or enforcement of creditor judgments.

In today's reality of dunning, harrasssment, omnipresent and continuing telephone, mail and personal collection tactics by the unscrupulous agencies there will be no place to go for economic recovery. The very commercial pirates masquerading as legitimate lenders and creditors will cause an increase in the suicide and "going postal" deaths by orders of magnitude.

And besides, what do we now do to a previously declared bankrupt when even the creditor imposed repayment scheme is not adhered to? Do we find the deadbeat in contempt and throw him/her in jail increasing the number and cost to the public for their maintenance and that of their children? The bill protects the recovery only for those creditors who are institutional giants and major GOP contributors; heathcare and banking.

This bill is so grossly unfair that history may very well view it along side of the oppressive British tax acts of the 18th Century that led to our revolution. It's a terrible idea, a worse bill and will result in chaos and civil unrest--which in my view would be justifiable.