The decision this week in the Purdue Pharma case emphasizes how the bankruptcy system protects some and fails others, and how the rich and powerful manipulate it to their advantage while perpetuating race, gender, and financial inequality.
My guest Melissa Jacoby (author of "UNJUST DEBTS: How Our Bankruptcy System Makes America More Unequal") is a legal scholar focused on bankruptcy and debt.
Jacoby reveals how the bankruptcy system not only falls short in providing basic debt relief to struggling families, but also how lawyers for big enterprises have transformed bankruptcy into a legal Swiss Army knife, impacting everything from sexual harassment, health care and police violence to employment discrimination and the opioid crisis.
Bankruptcy laws are a mess