Policy in Brief: Pro-Worker Bankruptcy Reform

On this episode of Policy in Brief, Oren Cass and Chris Griswold take a look at the damage done to workers and local communities when businesses go bankrupt. Jobs are destroyed, wages are reduced, and local tax bases are devastated. When financial markets push firms to assume excessive risk in pursuit of higher rewards, workers and communities are left holding the bag.Oren and Chris propose a series of reforms to the bankruptcy code that would prioritize workers and small businesses in ...