#413 – Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech

4056.567 - 4081.931 Bill Ackman

The only problem they had is they had billions of dollars of debt that they had to repay. They couldn't repay. And if you kind of examine the bankruptcy code, it's precisely designed for a situation like this, where it's kind of this resting place you can go to kind of restructure your business. Now, the problem was that every other company that had gone bankrupt, the shareholders got wiped out.