Famous Quotes & Sayings

Tommy Thompson

GM is holding it over your head that they can file bankruptcy at any time.

If someone in Katrina is down and out, and has no possibility of being able to repay 40 percent or more of their debts, then the new bankruptcy law doesn't apply,

I wouldn't expect to see any major effects of these bankruptcy filings on passengers. I think both carriers will restructure successfully and continue flying.

If we don't have the CAP program, then I'm going to the bankruptcy court. It would be the dissolution of the agency.

Alex Berenson

Most unfortunately, Enron's plunge into bankruptcy court also cost many of its rank-and-file employees their savings.

The problem is that people are in serious debt in this country. Outstanding consumer debt is at all-time highs, and debt is like an illness. You don't solve an illness by making it harder to get into a hospital, which is what bankruptcy court is for debtors.

The one thing we can be confident of is that the books are cooked. We don't need to know who cooked the books to know that there is deep trouble for this company ... Bankruptcy reorganization looms and that the creditors are going to start looking for deep pockets to sue.

Ron Paul

The obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people.

Adam McKay

George W. Bush was a silver spoon dolt with no record to speak of other than bankruptcy and selling tropical plants, and we let him sail into the White House, but Barack talks about religious fundamentalism and guns being prevalent in poor areas, and we roast him for weeks?

While there are people for whom this is an easy ride, for the vast majority, bankruptcy is not an easy ride.

Under the old law you could file bankruptcy every seven years and you'd have a full six years between filing (for Chapter 7). I have seen people who have filed three different times in their lifetimes.

The reason they've been in bankruptcy for three years is because they couldn't get creditors on board, I think they're going to come out when they say they are this time.

Filings are up solely because of the bankruptcy reform act.

Filing for bankruptcy doesn't make this one go away, ... It may make it less urgent to deal with, but the fact of the matter is these guys are still on strike, and they're still hurting Northwest's business to some extent.

Failure is not a crime. Bankruptcy is not a crime. If it were we would have to turn Oklahoma back into a penal colony because there would be so many people to lock up.

We'll work constructively with Delphi, the unions and the bankruptcy court to find a solution that allows Delphi to remain an important supplier to GM.

We don't want this credit counseling requirement to be yet another hurdle that consumers who really need bankruptcy relief have to jump over to get it,

There is also a widespread paralysis of the legal system in our area. The bankruptcy court in New Orleans does not exist anymore.

There is no immediate effect as a result of any bankruptcy filing, ... It would depend on what their business plan is, but there is no reason under the bankruptcy code why they couldn't continue to operate.

Kevin McCarty

There is not enough capital in the marketplace for a mega-catastrophe and it could in fact bankrupt the insurance industry in the United States,

We've heard too many stories of top executives of bankrupt companies sticking workers with unfunded pensions while running off with millions of dollars of so-called nonqualified pension benefits.

We think the risk of bankruptcy is too high to continue to hold the stock.

We think the recent surge in fuel prices greatly increases the likelihood of a bankruptcy filing within the next two months.

We think the probability of a Delta bankruptcy filing has grown, and we think investors should be mindful of Oct. 17, when more restrictive bankruptcy legislation becomes effective. That could be a key factor in a Delta deciding whether to file for Chapter 11 bankruptcy.

We believe liquidity pressures, combined with a weak fundamental outlook could compel Dana to pursue debtor in possession financing and a Chapter 11 reorganization. Given restrictions on secured borrowing and pressure from its suppliers, Dana may not be successful in obtaining sufficient out of bankruptcy secured bank financing.

We believe investors are justifiably growing increasingly concerned that production disruptions due to labor disputes are increasingly probable as there are currently two suppliers in bankruptcy with another more than likely headed in that direction.

Glenn Reynolds

This whole process is part economics, part bankruptcy law, part ideology and part game theory -- but 100 percent painful.

There comes a point in labor-management negotiations when you have to think about the survival of your bargaining partner, and we are well past that point. The Delphi bankruptcy put a flamethrower on a grim reality that's been evident for some time.

We think we're setting the standard for performance. If you see what people have done in other bankruptcies, they've obviously looked at our contracts and things like that as a yardstick to measure their own bankruptcy process.

Alex Tabarrok

Today it is evident that we have two political parties: the Tax and Spenders and the No-Tax and Spenders. Neither party is fiscally conservative. Is there no room at the inn for an honest conservative? A conservative who makes the case for smaller government on its merits and not just as the fallback option when fiscal bankruptcy threatens?

Our contract has been placed in jeopardy as a result of Delta's petition for bankruptcy protection, ... The fight that has just begun will be intense and difficult.

Most of these companies are losing money, ... The ones that don't go bankrupt will be selling for $5 or $10 a share a year from now.

I think they are morally bankrupt to do this to their customers and to their passengers.