obligations and then turning around, and going bankrupt to cash in on the assets of said company. In the meantime, these poor workers get nothing.
Wrong, absolutely wrong. It's time that the markets start awarding the owners of capital and equity far less and workers far more. Before awarding the so called top 1% of management of companies going out of business, workers at risk should receive a standard (based on years of service, starting w/ a minimum of two weeks severance pay) two weeks severance pay, COBRA to keep their health insurance until they can replace, and a 100% vestment of workers pensions already earned.
This should be part of the process that a company undergoing bankruptcy proceedings (or thinking about) should already be considering. If the company claims that they simply don't have the money, then authorities should step in, seize the company, and claw back management awards, in order to guarantee worker benefits already promised.