Want to file bankruptcy and have student loans? Sorry! You’re not a corporation! Can’t do that!
Bankruptcy may be a disaster for the 99 percent, but it can be a wondrous thing for million-dollar corporations.
Imagine, for a moment, that you’re a corporate CEO, and you want to get rid of your union contract. Maybe you signed it at the height of the boom, and now it’s beginning to pinch. While you’re at it, maybe you’d like to stop the payments you agreed to make to that employee pension fund.
It’s very simple—all you have to do is to file for corporate bankruptcy.