Sears Holdings Corp. (fka SHLDQ)

[alexbh2285]

It's not on the lap of taxpayers - it's on the lap of now SHLDQ shareholders and creditors - bondholders such as bond funds and hedge funds etc, trade creditors, and bank lenders.

and you can run like that in the US. The US bankruptcy courts are very friendly to creditors (and especially to secured creditors) whereas employee considerations are very low compared to for example a European bankruptcy.

It's the legal system we have so yes - Eddie CAN mess it up, play golf, remain rich - etc along with many who have levered up companies and caused them to go bankrupt - many getting richer with fees or salaries along the way. It's not how all would like it to be but it is how it is.