In a Bad State
Andrew Yang Podcast
00:00
The Disadvantages of Legal Bankruptcy Processes
Puerto Rico got a bankruptcy rule, and several interesting things happen. How much can you expect the government to cut before you allow it to default? And similarly, how do you treat different classes of debtors? Do you treat pensioners and bondholders the same way? These are really contested issues; I like about a legal process that puts some constraint on them.
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