Date: 2022-02-07 01:49 pm (UTC)
cmcmck: (Default)
From: [personal profile] cmcmck
Historians have strange minds, I suspect, especially if they live in a landscape so old that parts of it were once the bottom of a prehistoric sea and have no fossils. :o)

Tug! Of! War! With! A! Lion!

Date: 2022-02-07 03:10 pm (UTC)
jack: (Default)
From: [personal profile] jack
I liked the responses too. I admit, it's very possible to be misled, but that definitely looked like a lion having fun to me :)
jack: (Default)
From: [personal profile] jack
I kept hesitating through the article. "why the strategy was so attractive: J&J could create a related-party bankruptcy to limit liability, while avoiding “the burdens” of declaring bankruptcy itself," I mean, yes, I assume trousering all the profit and shovelling all the liability into a separate company which immediately folds because it doesn't have any income is ALWAYS desirable for a company, whether they're a giant multinational or a couple of cowboy roofer brothers who sell the business to each other cheap whenever they want to push the reset button on any debts. I guess the question is, when is it fraud and when is it legal (and I don't know -- the article touches on precedent for when it's reasonable, presumably based on how much the company assigns to settle the losses, but doesn't go into more details)

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