are the high percentages of bankruptcy bad for big business?

[jbm]

Between the high consumer debt,and the lack of decent jobs,it seems inevitable to me that a very large percentage of people are going to eventually wind up declaring bankruptcy,and yet the Bushites keep doing everything in their power to encourage the consumer to spend even more. I've been a little baffled by this,because it seems to me that the consumers can't hold out much longer,but then tonight I got to wondering if maybe it doesn't matter to the big guys if the little people go bankrupt. I did a little checking,and from what I've read,bankruptcy losses are passed on to the next consumer...so is that the ingredient I'm missing that brings together their whole economic policy? Is it possible that consumer bankruptcy is irrelevant to these guys?

[Occulus]

1. no, they're going to

make it harder and harder to declare bankruptcy, until corporations can gain ownership of persons.

Then the fun will really start.

[Don_G]

2. They Have Already

Student Loans can't be declared in a Chapter 7, 11 or 13 anymore nor are the Big Three Credit-Reporting Bureaus responsible for "their" mistakes.

The fun's going to start when Mr Joe Average can't afford to pay his bills because his job has been "outsourced"; Wal-Mart can't make up the difference in income and local/state governments have to make up for it in other "fees" and means.

[izzie]

4. Right on, as ownership of all is what they want.

They never have enought of anything.

[sandnsea]

3. It's a loss

Reduces taxes. I don't think bankruptcy hurts big companies at all. They hurt Main Street, which I guess would be good for big business, reduces the competition.