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As Bankruptcies Surge, Fewer Emerge

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Nevermo Jun 24, 2009 2:15 PM GMT Sounds good that the banks was pushing and saved from bankruptcy liquidation.
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Another Jim Jun 24, 2009 12:07 PM GMT It's interesting that the banks are pushing for liquidation when so many banks were saved from bankruptcy liquidation by a government bailout.
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SarahBarenz Jun 24, 2009 11:23 AM GMT Yea, Christine you are right. it is time for the businesses to purge themselves so the next millionaires can rise to the top. Crazy how business works. CEOs know its a gamble.
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Christine Jun 24, 2009 11:00 AM GMT Unfortunately this is the case. It seems like the business class that we've all grown so accustomed to is purging itself as it does every several years to ensure new businesses emerge that are forced by banks to have a more solid financial foundation. Sure, not every business that collapsed maintained an unstable financial foundation, however, money was spent more freely. I envision a future based on banks providing loans with a more watchful eye to try to prevent this from ever happening again. Too bad it had to happen right now.
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Thomas Jun 24, 2009 10:44 AM GMT If more bankruptcy are filled then the market might again go downwards which will be bad in near future. Lets all hope the best to come.
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Strategery Jun 24, 2009 5:56 AM GMT A few years ago the banking industry accused consumers of abusing the bankruptcy system to eliminate their debts, and although this did happen, it was not a major reason for filing. In an effort to reduce personal bankruptcy filings, we have bankruptcy 'reform' where some borrowers have to repay their debt over time. I suggest we apply these same ideas to businesses. Make the executives in these companies take debt counseling and require them to repay the debt over time. After all, it is the CEO and other executives that caused the business to fail. If a small business went under, the owner would likely have to settle the debts with their own assets.
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