Much of the press given to the bankruptcy bill currently in the Senate has been concerning the claim that bankruptcy is being used as a dodge, that dishonest people are using bankruptcy to duck their personal responsibility in paying off their debts.
The use of "personal responsibility" as a bankruptcy touchphrase is disingenuous. In this modern era, in which corporations make obscene amounts of revolving debt available to individuals, it is worth remembering that corporations came into being as a means of divorcing business owners from bearing personal responsibility for their actions taken in the course of business.
In a society based on personal responsibility, there are no corporations. There are only individuals who bear full responsibility for their actions, whether in business or otherwise.
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