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.
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The bankruptcy law was not intended to attack physicians but it is the law of unintended consequences. You just can’t look at the bankruptcy law in isolation. You must look at it in the context of Amendment 8, the ‘three strikes’ law.
Our schools should get five years to get back to where they were in 1963. If they’re still bad maybe we should declare educational bankruptcy, give the people their money and let them educate themselves and start their own schools.
It is imperative that we make consumers more aware of the long-term effects of their financial decisions, particularly in managing their credit card debt, so that they can avoid financial pitfalls that may lead to bankruptcy.
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