re: #104 Mocking Jay
Okay, I understand why individuals who own corporations aren’t responsible for corporate debt, but why aren’t corporation that own a corporation not responsible for those debts?
Because corporations are people, my friend.
(less snarky answer — because there’s bulkheads between every layer of corporate ownership; you keep them open when the money’s flowing the way you like, and lock them down to keep the debt obligation from also flowing to where the assets already went.)