CIM630Z1: Week One Discussion Question #2

Although bankruptcy has been around in one form or another since biblical times, it remains a stigmatized remedy. Bankruptcy generally involves the debtor obtaining a fresh start by discharging some or all debts (while typically still being able to keep all their property). Is this fair from a bank’s standpoint? If a debtor borrowed the money, why shouldn’t they be required to repay the debt forever? Discuss some arguments against bankruptcy and arguing that bankruptcy should not be a legally sanctioned option for people and business?