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?
replyIs there a legal term for this kind of restructuring of debt?
replyI vibe asked it on Kagi Assistant and it said the closet relevant result is https://en.wikipedia.org/wiki/Texas_two-step_bankruptcy
replyTo 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.
reply"Private Equity"
replyWelcome to late stage capitalism
replyThis is early 1990s capitalism.
reply1980s even. It takes a while to siphon off all the value built up by multiple generations.
replyI believe this is what they call the 'Texas Two-Step'
replySure it is not a Kansas City shuffle?
replyPerplexity wants to buy Google Chrome vibes.
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