| Why is the Treasury substituting government bailouts for chapter 11? Even if you assume Wall Street's major banks and insurance giant AIG are so important to the national and global economy that they can't be allowed to fail, that doesn't mean they have to be bailed out. They could be reorganized under bankruptcy protection. Their creditors, shareholders, and execs would take bigger hits- but they took that risk. |
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At robertreich.blogspot.com
At robertreich.blogspot.com
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