"F. George McDuffee" wrote in message
...

"Desperate situations demand desperate remedies" is a time-proven
adage. Given the disastrous impact that the cascading failures of
these major players will have on the U.S. economy/society, I
propose a "super bankruptcy court" be created to establish the
likely economic viability of these organizations, with immediate
liquidation (Chapt. 7) [not reorganization (Chapt. 11)] of those
unlikely to survive, with a 10 year suspension from any
management position of the current and previous corporate
executives and directors. (The stockholders have already lost
all their equity, although they might not yet realize this.)

The PBGC should have priority claim on any assets for full
pension funding, and any trust-fund/lockboxes established for
management retirement benefits and/or "differed compensation"
should be recaptured on the basis that this was an attempt to
conceal corporate assets.

The choice is not between a "good" and better" solution, but
between a "bad" and a "worse" solution.

Jeez, you're brutal. g I'm going to wait to hear if John has a solution
that's less drastic.

--
Ed Huntress