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Frytown, Iowa | When the bankruptcy law started in America I'm sure there was enough fear of reputation that kept people in check and was only used for those who REALLY needed it...
Now it seems like it's insurance to give a go for really aggressive business men.
I know bankruptcy is and can be a really sore subject as most that go through it are just either caught off guard on markets or not as good management as they thought and not really trying to work the system...
But would it be better for there to be a hybrid system where if you file for bankruptcy your debts are forgiven but you spend some time in jail? Maybe 1-5 years?
What are your thoughts on this? Is our system the best? Or does it allow recklessness? I think about these BTOs going under and hate to see when kids are involved... Would jail time deter some from their pride/greed?
Edited by frytownfarmer 2/26/2016 08:52
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Bankruptcy or jail?
