How Companies Use Bankruptcy to Avoid Liability | The Daily Show

Johnson & Johnson files for bankruptcy in the hopes of getting out of lawsuits after customers claimed their baby powder gave them cancer, and it’s actually working. And Rep. Katie Porter breaks down how companies use similar laws to continue denying justice to those harmed by said dangerous products. #DailyShow #TrevorNoah #RepKatiePorter

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[chihshiangshee]

I remember the various loan companies complaining that people were using the bankruptcy to avoid paying their debts. Guess claiming bankruptcy is fine as long as it suits big companies.

[tylerhackner]

Tired of corporations never being held accountable! It’s unacceptable!

[taylorbug]

And we keep paying the salaries of the people who do not close these loopholes.

[BriefNerdOriginal]

The italian national flight company used exactly the same bankruptcy mechanism, splitting in one "sick" company and a "healthy" one. All while the main managers exited the company with millions of Euros in bonuses. This is not just about USA. This is a world wide problem that prevents justice to do its job, and the really healthy companies to have a possibility.

[sanjuansteve]

We've lost our entire healthcare and pharmaceutical industries (and our food industry, our governments, etc) to limitless greed at any and all costs. #EndCitizensUnited #getALLmoneyOut #UniversalHealthcare

We have to end citizens united, get ALL money out from controlling our politicians and switch to a ranked choice popular vote for an actual democracy of, by, and for the people. #DEMEXIT #StillSandersPlatform

[cleffa]

5:01 That’s where you’re technically wrong, Trev. They may not be monetarily bankrupt, but they ARE morally bankrupt.

[kyrie]

Shes always awesome, glad to see her on here. It drives me crazy when you hear people say pop singers should be role models for women, no way, its women like her.

[docdirtymrclean]

Fun Fact: Ex-President Trump used this same trick more than 6 times.

[chiditv]

Because certain law makers view it as "saving the economy" in short. Majority of them are also involved stocked wise or directly participate in said company.

[HeXian]

She is incredible, love the way she actually thinks about people around her and their wellbeing

[TheSuzberry]

Builders have been doing this for years. They build a community, then break off the portion of the business that is being sued by the buyers for shoddy construction.

[gotherecom]

Never mind that years ago, Congress made changes to bankruptcy laws so that ordinary citizens would not be protected from bank credit card and education debts. You now owe them FOREVER. There is no "fresh start" with a court negotiated settlement as with other debts.

[whydoyouwanttoknowthat]

In India, we have criminal liability for directors of companies that harm public

[arrows]

Btw every construction worker i know in Texas can show a example of a contractor taking the money and run after the workers finish the jobs and not paying them. Then file bankruptcy and start over ripping of the next homeowner/employees.

[taylorbug]

And yet none of the people responsible will see any jail time.

[ifartmagic]

This is dumb. If it had been a mom and pop pizza joint poisoning it's customers, it just wouldn't survive. It wouldn't be able to just throw money at it and keep selling pizza.

Same needs to happen with big corporations.

[MindEyeMediaVR]

Just keep in mind that whenever corporations can manipulate the legal system to avoid accountability, EVERYONE winds up paying for it eventually.

[Ukie_Hags_World]

What about speaking for those who cannot speak for themselves -- the babies. Are they immune to asbestos poisoning and cancer?!!

[gghstlr]

This is why we need a full-blown revolution. Can you imagine??? Admitting that as a working parent you never thought your government would understand you need childcare? Just openly admitting how low the standards are for progress and protection of the American people.

[Zenith]

Imagine if you could also change your name and go 'oops my bad' and get a clean slate.