Quote from harkm:
You do understand that bankruptcy only means that the assets change from the guys running it now to someone else, right?
Bankruptcy would be a complete collapse of sales, hundreds of thousands of workers being laid off (directly and indirectly), and all of those people would stop buying bringing down thousands of more companies that are on the brink. On top of that unemployment insurance costs would skyrocket as would other government mandated benefits. Basically, we would be revisiting 1930s because we would be doing EXACTLY what Hoover did. However, there are people in this country who would make a fortune on the demise of our manufacturing base, and they are rooting for collapse, just so they can make a few bucks. Despicable.
