Bankruptcy Instead of Corporate Bailouts

                     

Corporations, such as those in the automobile industry and banks in financial trouble, can always use the bankruptcy courts for an orderly means to reorganize debts.

                       

This has unfortunately been forgotten in the past by the administration, at enormous cost to our national budget and our constitutional framework.

                                                   

Bailouts were done, in effect, to salvage union contracts, which bankruptcy courts would have dissolved. Agreements which make it impossible for U.S. corporation to compete domestically or internationally without taxpayer assistance.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)