A Quote by Elizabeth Warren
In 1978, we adopted a new Bankruptcy Code in the United States, and a principal part of this was designed to adjust to the new corporation, to find ways to let a corporation that had gotten into financial trouble reorganize itself. A big part of the selling point on this bankruptcy law was, 'It will preserve jobs.'
Related Quotes
It cannot be said that the Constitution formed 'the people of the United States,' for all time, into a corporation. It does not speak of 'the people' as a corporation, but as individuals. A corporation does not describe itself as 'we,' nor as 'people,' nor as 'ourselves.' Nor does a corporation, in legal language, have any 'posterity.'
In 1997, the National Bankruptcy Review Commission recommended that chapter 12 of the Federal Bankruptcy Code, the chapter that contains bankruptcy protection for family farmers, be made permanent.
We only have one penal code in the United States, and it applies in every single state, every city, no matter who is there. This is part of the fear mongering, that has gripped the United States, the notion that we need to pass a law forbidding the institution of a foreign Law in the United States when it is forbidden by the constitutions is yet another example of targeting Muslim communities because they are seen as different, or exceptional in other ways.
Bankruptcy is about financial death and financial rebirth. Bankruptcy is the great American story rewritten. We're a nation of debtors.
I became a professor myself, teaching bankruptcy and consumer protection. I conducted a national study of mortgage companies in bankruptcy. And what I found was that big banks routinely broke the law.
Even if you were to fall into extreme financial hardship and file for bankruptcy, you need to understand that your student loan debt will not be discharged in bankruptcy. It is the Velcro of all debts.
Generally speaking, companies get into bankruptcy as a kind of meritocracy. Somebody made some sort of big mistake, to get into bankruptcy, and very often, a part of the mistake is too much leverage.
I am the CEO of HCL Corporation, and, of course, a large part of my time does get spent in HCL Corporation, whether it is in actively managing our investments or perhaps even the governance and accountability and really seeing the strategic direction forward for HCL Corporation.
Apple was very close to bankruptcy and to irrelevance [but] you learn a lot about life through death, and I learnt a lot about vital corporations by experiencing a non-vital corporation. You would have thought that, when what stands between you and bankruptcy is some money, your focus would be on making some money, but that was not [Steve Jobs’] preoccupation. His observation was that the products weren’t good enough and his resolve was, we need to make better products. That stood in stark contrast to the previous attempts to turn the company around.
First of all, a giant corporation probably shouldn't be being hacked by teenagers. I put that on the corporation, not the teenagers. Teenagers are going to do what teenagers are going to do - rebelling. But if they're able to hack a big corporation, that seems like the corporation should be better at security.
I think one thing that has helped me to be an entrepreneur is being an immigrant and coming to the United States. I had to basically build a new life for myself, and adjust very quickly to a new environment, new culture, learn a new language.
That's part of growing up. You're away from home and you meet new people and adjust to new things. It's part of life.
When I went to law school, I took a bankruptcy class with then-professor, now-Senator Elizabeth Warren. And I'll never forget that first day of class, hearing her talk about the importance of the bankruptcy system.
Once you get to your forties or fifties in this society, very few people haven't had at least one body blow - financial, bankruptcy, divorce, relationship disaster, addiction, trouble with a child, trouble with a parent. Most people take some blow.
The fact is, out of all the possible reasons for going bankrupt, only three account for nearly 90 percent of bankruptcy: a job loss, a medical problem, or a divorce. And the fact is that those are exactly the kind of calamities that the bankruptcy courts were designed to help people through.
I wasn't always interested in technology. I had been a student for a long time - I'd earned a bachelor's degree, a law degree, and an MBA - and decided that I wanted to work in a large corporation, focusing on finance and law, in either New York or Chicago.
Related Authors
Andrew Yang Quotes
American
Public Servant
Ben Bernanke Quotes
American
Public Servant
David Frum Quotes
American
Public Servant
Henry Paulson Quotes
American
Public Servant
James Comey Quotes
American
Public Servant
Janet Reno Quotes
American
Public Servant
Janet Yellen Quotes
American
Public Servant
Karren Brady Quotes
British
Public Servant
Michael Hayden Quotes
American
Public Servant
Mohammed Saeed al-Sahaf Quotes
Iraqi
Public Servant
Paula White Quotes
American
Public Servant
Samantha Power Quotes
Irish
Public Servant
Scott Gottlieb Quotes
American
Public Servant
Steve Bannon Quotes
American
Public Servant
Vivek Murthy Quotes
American
Public Servant
Wendy Kopp Quotes
American
Public Servant