HOW BANKS AND POLITICIANS LET ONE COMPANY COME BACK FROM THE DEAD AND KEEP ABUSING WORKERS

At Alternet:

The rich are different, and so are their bankruptcies. For most Americans, politicians and banks have made bankruptcy an onerous, embarrassing process with lifelong consequences. But bankruptcy means something very different if you’re a giant corporation like American Airlines, which is wringing millions in concessions out of unions after filing for bankruptcy with $4 billion cash on hand – or if you’re a regional sweatshop like Pennsylvania’s W & K steel. . The family that ran W & K has repeatedly gotten caught burning their creditors and endangering their employees. Their business even drew a boycott from its hometown County Council. But now they’re doing just fine, because politicians and banks keep giving them money. A bank they stiffed allegedly took months to make them give up equipment serving as collateral on an unpaid loan – while moving to foreclose on four hundred-plus area homes.

Here’s the rest.

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