"Putting a Business Together Again" (March) showed that current bankruptcy laws can provide healthy reorganization for some companies, and be beneficial to both creditors and debtors. But some bankruptcy cases are nothing more than ways for people who grow weary of running a business to weasel out of their debts.
Believe me, I know. I run a little company that has been stung with a $2,000-plus debt owed by a guy who carries that much in the glove compartment of his new luxury car. He might as well have forced me to give him $2,000 cash at gunpoint. As far as I'm concerned, the worst thing that ever happened in Anglo-Saxon law was doing away with debtors' prison and the pillory.