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What is the harm of doing the right thing? What is the harm of doing our job as legislators and making sure we do not stick the entire bankruptcy community with these provisions that do not make any sense?
As president of the International Brotherhood of Teamsters, I have seen private equity firms plunder company after company, taking rich fees for themselves and cutting costs until there's nothing left to cut. Time and again I've seen their reckless behavior drive companies to declare bankruptcy.
James P. Hoffa
If we didn't have greed, market economies wouldn't be as innovative as they are. But in my view, greed has to be contained by the fear of losses, so there has to be a system where, if you take too much risk, you go into bankruptcy. You don't systematically bail out people who take excessive risks.
Generally speaking, companies get into bankruptcy as a kind of meritocracy. Somebody made some sort of big mistake, to get into bankruptcy, and very often, a part of the mistake is too much leverage.
In our equities business, 49 of the 50 most important Lehman clients are back doing business with us. The flows are 75 to 80 per cent of what they were prior to the bankruptcy. The issues which damaged Lehman were around commercial mortgages and illiquid private equity assets.
The obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people.
Bankruptcy exposes the economic vulnerability and insecurity of middle class women.
Most women file for bankruptcy in the aftermath of a serious medical problem, a job loss, or a family break up. It is hard to protect against those.
Know what happens when an individual declares bankruptcy and how it affects his or her life.
Marilyn vos Savant
Medical debts are the number-one cause of bankruptcy in America.
Most unfortunately, Enron's plunge into bankruptcy court also cost many of its rank-and-file employees their savings.
Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans.
Enron had already collapsed and filed for bankruptcy protection by the beginning of 2002. But despite complaints from short sellers that corporations had used accounting gimmickry to inflate their profits, many investors thought the crisis at Enron was an isolated case.
Enron Field in Houston, the Trans World Dome in St. Louis and PSINet Stadium in Baltimore are just three of the modern-day coliseums named for companies that have found new homes in bankruptcy court.
Unemployment, foreclosures, bankruptcy - the cure is not more government spending, but helping businesses create jobs.
Together with a team of financial and legal experts I have spent months exploring all possible alternatives to bankruptcy but to no avail.
When I came in, the city was on the edge of bankruptcy. I'm proud of what I did. I built the foundation that mayors after me built upon - particularly Bloomberg. But the foundation was essential because if it hadn't occurred, we would have been another Detroit.
If we don't change, millions of American families are just one medical emergency, or one layoff, away from financial disaster and bankruptcy.
Personal savings accounts to me are one of the most powerful things, not necessarily in saving, solvency, or bankruptcy of the program, but in guaranteeing, the words I used a few minutes ago, a safe and secure retirement for our seniors.
A Fed loan to Lehman Brothers would not have prevented a bankruptcy.
Five thousand people every day lose their home because of a medical bankruptcy. Most of them had insurance.
Even if you feel like your debt is just never going to go away, think long and hard before declaring bankruptcy. Declaring bankruptcy means that getting a loan for anything will be next to impossible for the next 10 years.
Alexa Von Tobel
It is imperative that we make consumers more aware of the long-term effects of their financial decisions, particularly in managing their credit card debt, so that they can avoid financial pitfalls that may lead to bankruptcy.
The assumption that Washington could and would resolve Lehman Brothers without a bankruptcy, as it had Bear Stearns, was the single biggest mistake in the series of mistakes in 2007 and 2008 that led to the financial panic and the ensuing epidemic of job losses.
This program that the Republican majority has taken us toward as a country is leading us to fiscal bankruptcy.
John F. Kennedy
Martin Luther King, Jr.
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