While investigating the bankruptcy scandal which, under Obama-appointee Timothy Geithner's influence, stole hard-earned and well-funded pensions from 20,000 auto workers, I stumbled into an underworld of law and questionable processes within our nation's bankruptcy court system. At the recent National Council of Bankruptcy Judges Conference in San Diego last month, I heard phrases like “melting ice cubes,” “rotting fish,” and “fox guarding the hen house” frequently used among 150 federal judges to rationalize certain bankruptcy court proceedings. Is this a practice of law? I was shocked to learn that many bankruptcy judges think that it is fine to go after ordinary shareholders of companies that enter bankruptcy in order to disgorge the value of their investments. They even had a conference session
Chapter 11 Bankruptcy - A License to Steal? Or Redistribute Wealth?
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