Legalized corporate Bernie Madoff scam. Sell 1 billion shares of common stock to public, borrow money, it's business as usual, file BK and cancel all common shares, continue with operations as usual (because nothing is affected) give some stolen (cancelled shares) to debtors and sell back some to more unsuspecting gullible public again at an even higher price.
Think about it, if it's business as usual, why cancel the stock they don't own, I own it.
BK should mean BK, no reorganization, your done, sell everything and divide up the spoils or sell company and divide it up.. Anyone at a certain position and higher should be fired and a black mark goes against them just like it would you or me. If I file BK, it's on my record for 10 years or so. CEO's should be paid a very small sum and the rest in stock. Company fails, they fail, company does good they get a bonus a year later.
