I know it's Friday and I rarely post (especially something serious*) but as unsurprising as this news is, it really pisses me off. As I predicted (which is not to imply that this is at all unexpected or that many other people didn't make the same prediction), Freedom Industries has filed for bankruptcy protection.
And it took just one more week for Freedom Industries, facing class-action lawsuits and a Justice Department investigation, to declare bankruptcy. On Friday, the besieged company filed for protection under Chapter 11 in the U.S. Bankruptcy Court in Charleston.
Typical of them to file on a Friday. Extra lucky for them that Monday is a holiday giving their lawyers a three day weekend to get a head start on this matter.
So, as is far too often the case, an industry is under regulated (despite the oh so many cries by the Right/Tea Party/Libertarians/Corporate Lobbyists that we are soooo over regulated in this country) allowing a corporation person** cuts corner and reap profits for many years.
Then when the corporate person causes harm - in this case releasing enough toxic chemicals to contaminate the water supply of approximately 300,000 people and numerous businesses, stopping them for drinking, bathing or washing clothes with it for well over a week*** - they file for bankruptcy**** leaving the people who suffered the harm as well as the American taxpayer holding the bag. Plus, unlike an actual human person who poisons 300,ooo people, these corporate persons are very unlikely to go to jail. Such. Fuckin'. Bullshit.
tl;dr - Winners: corporations; bankruptcy lawyers (except for that one associate who actually thought he was going to make his sister's wedding this weekend). Losers: American people; the environment. Now I'm going to start drinking.
*My space cat warning excepted. I'm completely serious about that danger.
**Fuck Citizens United and all the corporate personhood bullshit! A corporation is a conceit of the law, and unlike actual human persons, they do not have unalienable rights. A corporation is whatever we, under the law, say it is.
***And even once it's deemed dissipated (aka flushed down river spreading pollution far and wide, just less concentrated) to a "safe" level, I'm not sure how much I'd trust the water.
****Don't get me started on how much easier it is for a corporation to discharge their liabilities compared to the near impossibility of discharging student load debt in bankruptcy or even in death.