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underdeveloped sense of codified bankruptcy relief available to "captains of industry," from the observations of de Tocqueville ...
In America there is no law against fraudulent bankruptcies; not because they are few, but because there are a great number of bankruptcies. The dread of being prosecuted as abankrupt acts with more intensity upon the mind of the majority of the people than the fear of being involved in losses or ruin by the failure of other parties, and a sort of guilty tolerance is extended by the public conscience to an offence which everyone condemns in his individual capacity. [...] The Americans, who make a virtue of commercial temerity, have no right in any case to brand with disgrace those who practise it. Hence arises the strange indulgence which is shown to bankrupts in the United States; their honor does not suffer by such an accident. In this respect the Americans differ, not only from the nations of Europe, but from all the commercial nations of our time, and  accordingly they resemble none of them in their position or their wants.
... to the legacy of Jack "The Parachute" Welch.

Trump, Impeachment & Forgetting What Brought Him to the White House
"To win reelection, Trump, a corrupt con man (who jumped ship on his own bankrupt casinos, money in hand, leaving others holding the bag) will cheat and lie.

Diversity is the key to economic and political evolution.

by Cat on Thu Oct 10th, 2019 at 08:15:08 PM EST
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