The Great American Bank Robbery
How did the big banks nearly take down the entire economy and still continue to profit? Nobel Prize-winning economist Joseph Stiglitz explains.
Bankruptcy is a key feature of capitalism. Firms sometimes are unable to repay what they owe creditors. Financial reorganization has become a fact of life in many industries. The United States is lucky in having a particularly effective way of giving firms a fresh start—Chapter 11 of the bankruptcy code, which has been used repeatedly, for example, by the airlines. Full Story »
Posted by Dwight Rousu
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