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To: opalapril who wrote (1928)	1/31/2002 3:39:14 PM
From: Sawtooth	Read Replies (1) \| Respond to of 1983

<<Historically, bankruptcy was preferred over a Dickinsonian life time commitment to pay off all debts precisely because it moderates the entrepreneurial risk and accordingly encourages more economic activity.>> Hi, opalapril. Unfortunately, bankruptcy has apparently become, in many cases, part of a strategy to enrich the few while leaving the many holding the bag (and we all know what's in the bag <grin>); diverging hugely from the original concept of entrepreneurship and risk-taking. I could be very wrong on this but I think it's going to take, and may already be taking, a toll on investor's willingness to participate in the risk-taking of entrepreneurship via the stock market, since it's becoming quite evident that all of the risk is resting squarely on their backs. ...VVVVVVVV

To: opalapril who wrote (1928)	1/31/2002 3:44:20 PM
From: MeDroogies	Read Replies (2) \| Respond to of 1983

As far as I know, Steve Jobs and Bill Gates never declared BK...so that really doesn't help alot. If you mean that they would have been deterred from risking their fortunes because of the risk of BK, I'd have a load of ammo to shoot that down on. I think it's pretty evident that alot of people use BK now to enrich themselves, and then protect those riches. Kenny Lay is going to get off easy, and he should be forced to sell everything he's got and repay stockholders. Funny how his wife said all their holdings are for sale and the WSJ found 10 real estate holdings that aren't.... Besides, the stigma that used to come with BK carried important connotations about trustworthiness. Chap. 11 does not.