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by nickpinkston 75 days ago
Totally agree - there's a lot of double standards here:

Bankruptcy is good for entrepreneurial risk, but not for human thriving apparently...

1 comments

Bankruptcy is great for human thriving, and the extensive US bankruptcy system is one of the best tools our legal system has for people who wind up in bad situations. It's a complete shame that we decided that student loan debt was ineligible for most forms of bankruptcy once it became clear that federal guaranteeing of loans would generate a lot of high risk loans.

But fleeing to another country and/or simply refusing to pay your debts, regardless of whether or not you are able to are is not bankruptcy. It's simply refusing to pay your debts.

I see them as morally equivalent in our current system - ie an illegitimate democracy without recourse for common people.

If companies can do strategic bankruptcies, transfer pricing, etc., then regular people can do the consumer equivalents.

I don't think any of us should shill for corporate interests.