Comment by stevefan1999
5 hours ago
So you mean...marrying someone but transfer all the personal debt to the others, then divorcing so that I have no responsibility whatsoever? Not even an obligation to settle for the debt just like disappeared through an expired relationship?
Is there a legal term for this kind of restructuring of debt?
I vibe asked it on Kagi Assistant and it said the closet relevant result is https://en.wikipedia.org/wiki/Texas_two-step_bankruptcy
To me it seems more like leveraged buyouts + debt restructuring all at once. I rather coin this term "debt offloading", which could also cover the cases with Enron for the tactics they used about 25 years ago
Scamming the state through private debt emission.
"Private Equity"
Welcome to late stage capitalism
This is early 1990s capitalism.
1980s even. It takes a while to siphon off all the value built up by multiple generations.