Melissa B. Jacoby, Graham Kenan Professor of Law, dives into the complexities of America's bankruptcy system. She explains how it serves the wealthy while leaving marginalized communities more vulnerable. The discussion reveals how racial disparities in bankruptcy impact Black Americans and exacerbate economic inequality. Jacoby also highlights the preferential treatment corporations receive and the need for reforms to ensure fairness. Her insights illuminate the connections between bankruptcy and broader social justice issues, making a compelling case for systemic change.

Deepa Fernandes, a journalist known for her insightful interviews, talks with Melissa Jacoby, a law professor who critiques the U.S. bankruptcy system's racial and economic biases. They discuss how bankruptcy often overrides individual needs to favor corporations. Mara Kardas-Nelson, a journalist focusing on women’s experiences in Sierra Leone, shares her findings on the pitfalls of microcredit, revealing how it has trapped borrowers in a cycle of debt rather than providing relief. Together, they explore essential reforms needed in both systems.

Law professor Melissa Jacoby discusses how bankruptcy system benefits the wealthy but punishes the poor in America. Topics include disparities in wealth divide, bankruptcy as an economic safeguard turned divider, and challenges in bankruptcy reform for fairer outcomes.