Licata Bankruptcy Quotes

There's only one thing you can do in bankruptcy: break your word, break your deals. It allows you to say to the small businesses, who have been catering lunches for you, 'Sorry, we're not paying you.' It allows you to go to the workers and say, 'Sorry, we're not paying you.' ~ Barney Frank

Bankruptcy represents a longstanding commitment in this country to helping people get a fresh start. This principle has never been giving only certain people a fresh start. ~ Tim Johnson

The presently existing global financial and monetary system will disintegrate during the near term. The collapse might occur this spring, or summer, or next autumn; it could come next year; it will almost certainly occur during President William Clinton's first term in office; it will occur soon. That collapse into disintegration is inevitable, because it could not be stopped now by anything but the politically improbable decision by leading governments to put the relevant financial and monetary institutions into bankruptcy reorganization. ~ Lyndon LaRouche

There is a tendency in things to right themselves, and the war or revolution or bankruptcy that shatters rotten system, allows things to take a new and natural order. ~ Ralph Waldo Emerson

If India is not to declare spiritual bankruptcy, religious instruction of its youth must be held to be at least as necessary as secular instruction. ~ Mahatma Gandhi

Moral improvement (or perfecting) require an evolution leading to a higher consciousness, which is the true torch of life; it is what we have failed too much to appreciate, and that which would be fatal to fail to appreciate any longer ("pluslongtemps", Fr.); For if we do not take it upon ourselves to remedy in time to the moral colapse (or bankruptcy) that already threaten, the whole civilisation will risks to disappear. ~ African Spir

In our equities business, 49 of the 50 most important Lehman clients are back doing business with us. The flows are 75 to 80 per cent of what they were prior to the bankruptcy. The issues which damaged Lehman were around commercial mortgages and illiquid private equity assets. ~ Bob Diamond

There are lots of businesses that are well in excess of $9 billion that have gone into bankruptcy, that have been mismanaged. And that has not served anyone very well. ~ Roger Goodell

We were taking out mortgages we couldn't afford because they were camouflaged to look as if we had a reasonable chance of paying them back. Banks then changed the bankruptcy laws so that we could not get out of our obligations once the rates changed. Lastly, they sold us back our own mortgages, shifting back to us any of the risk through our money-market accounts and pension funds. ~ Douglas Rushkoff

Why are you afraid? This is where you get it out of your system: bankruptcy, unfulfilled potential, trashing your reputation, losing it all. And then (because we just can't stop there), you're going to apply some simple analysis to it.You may have nothing to fear after all. ~ Danielle LaPorte

Bipartisanship has taken us to the brink of bankruptcy. We don't need bipartisanship, we need application of principle ... Where was the call for bipartisanship during the Obamacare debate? Not a single Republican voted for it. It wasn't about bipartisanship, it was about having the votes to dictate your will. ~ Richard Mourdock

The bankers might not have said it in so many words, but gradually their strategy emerged: Target families who were already in a little trouble, lend them more money, get them entangled in high fees and astronomical interest rates, and then block the doors to the bankruptcy exit if they really got in over their heads. ~ Elizabeth Warren

In the 1970s, New York City avoided bankruptcy because wise political leaders like Gov. Hugh L. Carey believed both in strong labor unions and robust banks and companies. ~ Felix Rohatyn

Bankruptcies of governments have, on the whole, done less harm to mankind than their ability to raise loans. ~ R. H. Tawney

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. ~ Amelia Warren Tyagi

The people who are filing for bankruptcy in increasing numbers every year, it's not the poorest. It's not the people at the economic fringes. It's people who worked hard and played by the rules. ~ Elizabeth Warren

Let's stop kidding ourselves that Greek debt is the Euro's key problem. With Greece gone, who's next ? ~ Alex Morritt

Enron had already collapsed and filed for bankruptcy protection by the beginning of 2002. But despite complaints from short sellers that corporations had used accounting gimmickry to inflate their profits, many investors thought the crisis at Enron was an isolated case. ~ Alex Berenson

Lastly, there is bankruptcy, as the United States pours its economic resources into ever more grandiose military projects and shortchanges the education, health, and safety of its citizens. ~ Chalmers Johnson

The dearth of business activity on the traditional day of rest makes Sunday an ideal time to declare insolvency. Bankruptcy petitions are time-stamped to the minute, instantly dividing a failed company's dealings into pre-bankruptcy transactions and post-bankruptcy transactions. ~ Brendan I. Koerner

An expenditure of words without income of ideas will lead to intellectual bankruptcy. ~ Ravi Zacharias

The model for our early bankruptcy laws was Deuteronomy, the idea that, under certain circumstances - in Deuteronomy, it is simply the passage of seven years' time - people are released from debt, simply because they are released from debt. No more debt. You start over again. This has been a very powerful model in this country. It's being destroyed now. People talk about how much new employment, new wealth, and so on are continuously generated in this country. ~ Marilynne Robinson

A very difficult year is ahead of us. We must continue our efforts with decisiveness, to stay in the euro, to make sure we do not waste the sacrifices and do not turn the crisis into an uncontrolled and disastrous bankruptcy. ~ Lucas Papademos

The No. 1 cause of bankruptcies is medical bills. ~ Michael Moore

A normal way that the American free market system has worked is that we have a process of unwinding. It's called bankruptcy. It doesn't mean, necessarily, that the industry is eclipsed or that it's gone. Often times, the phoenix rises out of the ashes. ~ Michele Bachmann

Before I went to college I read two books. I read a book "Moral Mazes" by Robert Jackall which is a study of how corporations work, and it's actually a fascinating book, this sociologist, he just picks a corporation at random and just goes and studies the middle managers, not the people who do any of the grunt work and not the big decision makers, just the people whose job is to make sure that things day to day get done, and he shows how even though they're all perfectly reasonable people, perfectly nice people you'd be happy to meet any of them, all the things that they were accomplishing were just incredibly evil. So you have these people in this average corporation, they were making decisions to blow out their worker's eardrums in the factory, to poison the lakes and the lagoons nearby, to make these products that are filled with toxic chemicals that poisoned their customers, not because any of them were bad people and wanted to kill their workers and their neighbourhood and their customers, but just because that was the logic of the situation they were in.

Another book I read was a book "Understanding Power" by Noam Chomsky which kind of took the same sort of analysis but applied it to wider society which you know we're in a situation where it may be filled with perfectly good people but they're in these structures that cause them to continually do evil, to invade countries, to bomb people, to take money from poor people and give it to rich people, to do all th ~ Aaron Swartz

The administration in my view is once again manufacturing a crisis. There is no crisis in the Social Security system. The system is not on the verge of bankruptcy. ~ Paul Sarbanes

The immense and ever increasing sums which the state wrings from the people are never enough for it; it mortgages the income of future generations, and steers resolutely toward bankruptcy. ~ Peter Kropotkin

Bankruptcy and repudiation are the springboards from which much of our civilization vaults and turns its somersets, but the savagestands on the unelastic plank of famine. ~ Henry David Thoreau

For the personality, bankruptcy or failure may be a disaster. For the soul, it may be grist for its strangely joyful mill, and a condition it has been secretly engineering for years. ~ David Whyte

When we finally have this recall election in October, there could be as many as 200 people on the ballot. And you know what's really scary? Most of them don't know the first thing about driving a state into bankruptcy. They're not experts like Governor Gray Davis. ~ Jay Leno

I can tell you that when you're counting every penny, knowing that you are a single bad decision away from bankruptcy, you inevitably lose focus on what really matters for your business. ~ Maelle Gavet

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. ~ Marianne Williamson

The Eternal way allows you to have all the success you want in life WITHOUT the pain and inner bankruptcy. ~ Michael Mackintosh

Some economists estimate that for every family that goes bankrupt, there are about 15 more who are in the same amount of financial trouble and would profit from bankruptcy but just haven't filed. ~ Elizabeth Warren

If we don't change, millions of American families are just one medical emergency, or one layoff, away from financial disaster and bankruptcy. ~ Jim Cooper

Eventually, in the 1780s, Louis XVI, who had ascended to the throne on his grandfather's death, realised that half his annual budget was tied to servicing the interest on his loans, and that he was heading towards bankruptcy. ~ Yuval Noah Harari

The days of life are consumed, one by one, without an object beyond the present moment; ever flying from the ennui of that, yet carrying it with us; eternally in pursuit of happiness, which keeps eternally before us. If death or bankruptcy happen to trip us out of the circle, it is matter for the buzz of the evening, and is completely forgotten by the next morning. ~ Thomas Jefferson

The Orderly Liquidation Authority prescribed by Dodd-Frank should be repealed and replaced by an amendment to the U.S. Bankruptcy Code which would operate to prevent cross-default provisions from impacting derivatives books so long as mark-to-market payments are being made in a timely fashion. ~ Paul Singer

But credit card debt is unsecured debt, which means if you get in trouble and cannot pay off your credit card, you can discharge it in bankruptcy. What are they going do to you? If you're in a financial position to just methodically pay off both credit card and student loans, pay them all. ~ Suze Orman

If there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. ~ David Stockman

Countries don't go out of business ... The infrastructure doesn't go away, the productivity of the people doesn't go away, the natural resources don't go away. And so their assets always exceed their liabilities, which is the technical reason for bankruptcy. And that's very different from a company. ~ Walter Wriston

The CEOs of every major Wall Street firm were also on the wrong end of the gamble. All of them, without exception, either ran their public corporations into bankruptcy or were saved from bankruptcy by the United States government. They all got rich, too. ~ Michael Lewis