*"Why is that if you take advantage of a tax break, and you're a corporation, you're a smart businessman. But if you take advantage of something that you need to not be hungry, you're a moocher." - Jon Stewart*

So I need “MONEY” To let the courts know I’m broke! Damn, I’m so poor that I don’t even have enough money to say that I’m poor.

Since the Senate "worked" a total of 15 minutes this week, they didn't come up with a solution to ANYTHING.

Lol dont you get it. Rich people are not going to be hurt. This is eliminating there competition

All these bankruptcies will lead to thousands unemployed which will lead to whole lot of other societal issues.

it wasn't coronavirus, it was the way we handled it. a lot of countries who handled it well are fine

Indoor dining is *NOT* a necessity. Pay your bills, pay down your debts if you can, and come out of this in better shape than you were when this madness started.

It's not the coronavirus that caused this, it's what you guys did IN RESPONSE to the coronavirus, let's get that right.

2020 is just rubbing in the salt now

A point to note: the vast majority of permanent business closures are small and family-owned businesses, some of which have been around for generations; this is going to rob the labor class of long-term wealth, which in turn is going to be sucked up to the upper rungs of the socioeconomic ladder by those who have been profiting off the misery of the pandemic and by corporations that offshore their tax burdens and have the resources to adapt to the realities of this pandemic. The businesses and families of our allies abroad are not suffering as badly because their governments focused more on keeping their citizens alive than giving millionaires and big businesses huge sums of money to shore up the stock market. And Congress, by no means or metric, "acted swiftly" to try and address the problems caused by the pandemic; the only reason they acted at all was because their needed to quell any idea of rebellion and rioting that would have been caused by suffering people having no money and no supplies during the first months of lockdown.

Not sure why America would want to keep some of these companies afloat. Like Hertz? JCPenney? Have them cycle out of the market, and allow new brands to emerge out of the woodwork once the pandemic is over.

Everything is going 100 percent online sales... realized this years ago, brick and mortar stores are done.. liquidation time folks...

"The owners of this Country Know the Truth. It's called the American Dream because you have to be asleep to believe it."

Bankruptcy, like everything the government does, is absolutely asinine. Debt doesn't just disappear, someone still suffers.

An Economy built on entertainment will fail when entertainment becomes nonviable. Everyone can't run restaurants, stores and entertainment sector business.

I stopped spending on non essentials a month ago and going out to eat.

Dear strangers, hope y'all are doing great in this pandemic. stay safe, stay healthy🤍

2020 is the absolute worst year of disasters that I can remember!

I work for a bankruptcy department. We are waiting for the shoe to drop, it makes me really sad and it truly is starting to effect me emotionally as I have dealt with hospitals, churches, big box stores, mom and pop businesses and ofcoarse all the personal bankruptcies too

Weird how it’s just working class people feeling the effects of this. Meanwhile the owner class is making more than ever and is about to buy up all the empty buildings further dissolving the middle class

A lot of these places were struggling prior to Covid19. The end just came faster than they expected.

Bankruptcies are not good for the people who don’t get paid because businesses now don’t have to pay their bills.

Trump: Now, no one gonna joking around about the history of my bankruptcy anymore.

Ya but the super rich are doing better than ever so who cares about everyone else? Isnt that the governments motto?

Welp! We're all can too file for the bankruptcy then. So we can all walking away from our debts! why are we struggling for them right??

Just as usual the CEO's will take everything and leave nothing for the rest of us.

Can we just a moment to appreciate the song they used in this video?! It's working harder than our government is...

This has been the biggest tragedy to me. Thousands of businesses have been permanently closed due to someone that still kills less people than heart disease

Time to break up Big Tech, as well as implement an Excessive Tax of 100% of the gains made during the pandemic on all these companies like FDR did in the 40s

So in other words we are getting closer to having the first great depression since the 1920s Ok got it

This was very informative. I've been hearing news of various bankruptcy filings lately and I couldn't quite understand it.

I got a kick out of 3:38 since if you look closley it's actually stock footage from the 1970s.

The background music makes bankruptcy look cute

My local Rub N' Tug's have filed bankruptcy and I've been doing everything I can to support them to keep them open.

Hertz, Chuck E. Cheese and this is only from the first wave

The only thing that will get the congress moving is seeing the millions of American people with pitch forks and firery torches at the capital front and back door.

what a difficult year for everyone :(

Trump sounded insane in his acceptance speech. Bragging about the economy.

I noticed it’s tough to get financing. I went to buy a boat and they told me it would take less time to get approval if I brought in my own finance. I did and it worked smooth but I’ll always wonder if I missed something not shotgunning my credit to those other banks.

Some of these companies were already facing bankruptcy...and COVID was a great excuse to get excused!

RIP small businesses in NYC!

Goes to show how much "healthcare" is a huge profit industry

Too many companies doing the same thing, thinking they will make a profit.

The us used to be a one of the greatest countries in the world and now it is just a joke

1st time i heard bankruptcy are good for business!As she claimed. All the investment are gone . other people life saving . I don't think that is a good thing .

Americans: "we are so much richer than any other country" Also Americans: "we do not have the money to shut down the country"

If I own stocks in a company that has filed for Chapter 11 bankruptcy. Is it possible to keep those stocks until the company recovers, and becomes profitable again?

What about non profit charities that suffer a double sided sword in that income has dropped and demand for assistance skyrocketed. If they are large nonprofits there was not assistance.

Forget the big brands. What about all their vendors and retirement? The big investors will be saved one way or another. It's the little guys who will have the burden placed on their shoulders.

Maybe they should've saved up for a rainy day instead of buying that morning coffee or the election.

For an European it’s confusing to hear “rush to file for bankruptcy” and to hear that bankruptcy doesn’t result in selling off all the assets to pay the debts in a short period of time. From hearing the explanation about the chapters it sounds more like a legal form of moratorium or suspension of payment.

While Nancy is keeping the ice cream manufactures in her area busy

"Bankruptcy is good for the economy." WTF??? She living in candy land? That's about the stupidest thing I've ever heard anybody say.

We gonna have to start hunting our food

It’s unfortunate to see small business owners suffer. I wonder if most of the establishments were deep in debt and if they were barely keeping their head above water. The restaurant that I work at stayed open. Hell we even remained profitable. But the biggest difference, I believe, is that our owner wasn’t relying on the business’s profit to pay for his mortgage and basic necessities.

Getting rid of debt is a good thing for a failing business. It really sucks for those creditors who then may need to declare bankruptcy because their debtor will no longer pay the debt.

How the government set off bankruptcy waves... should be the title!

We need to be careful on these days. I just really hope Covid-19 gets calm in the next month.

I'm one to complain when it's warranted and equally one to praise when it's warranted. I gotta say CNBC, you've been impressing me lately with some actual journalism, with good information without BS commentary. Nice job!

All of the bankruptcies are from companies that were in trouble years ago. It does not happen in a few months.

I dont think any one telecommunication company is filing bankruptcy because of COVID.. list one please?

O okay 👌 it was the corona virus. Not the decades of poor fiscal and monetary policy

A lot of property owners are also losing tenants that are fleeing the large cities. They are going to lose the rent incomes and they are also going to start filing for bankruptcies as well or they may just completely abandon the properties and not pay the property taxes and then the banks will possess them and then the cities will step in and take over these properties and turn them into affordable housing programs.

I feel like America is like a failing department store and is one more bad decision away from folding for good

At least the 20's didn't wait until the last minute to hit us with economic disparity this time around. Isn't this video a bit like kicking someone in the groin, then conducting a study to figure out why they are hunched over in pain?

Trump : The coronavirus will disappear like a MIRACLE !!

I lost my job due to Corona virus bankruptcy and I'm door dashing and this ain't working that well these Corona virus bankruptcies are destroying us all..

I came only because the thumbnail on a news YT channel video had a guy wearing his mask incorrectly 😂🤣😂

Just Print Money.

Amy Quackenboss: "Bankruptcies are generally good for the economy ... because borrowers are getting rid of their debt... " What an irresponsible thing to say. For every debt that gets written off, others are left holding an empty bag. This is not a "everbody wins" situation. Execs make bonuses reorganizing while little investors lose their saving. I'm being a bit dramatic here, but still, I think the main point stands.

@1:02 Everyone in the IE knows that scenery lol

So what you're saying is the stock market should reach record highs?

World economy: WE NEED HELP Coronavirus: nah

How about the looting?

we need to boycott the corporations and shop local and support and take care of each other the government is never going to help us

I love Brooks Bothers. Amazing company- Lincoln and JFK wore their suits. I hope they stick around even if it’s just online...

It wasnt the virus that did this, it was your constant spreading of fear while refusing to hold back.

Funding in Bitcoin is the most simplified way of avoiding these financial crisis

A friend of mine is a bankrupt lawyer and told me bussines is booming what does that tell you

Yeah, right! So now we all get a 1200 dollar "stimulus check" right?

Trump has gone through this 7 times... he could lead a class in Bankruptcy... terrible business person...

Maybe CEOs shouldn't be taking home a million dollars a year. If you make more than $600,000 a year your soul is evil.

Last time I checked we the 99% of the people when into a similar kind of bankruptcy. No one in government did in fact they sold off stocks that they knew were going to fail .

Bankruptcy lawyers are absolutely loving this

but... iT's JuSt ThE fLu

2020 I am begging you to stop

Big companies are given bailout money from taxes but still they lay off just so easily

finally i got the idea how to explain on my presentation

Bailouts ain't free either, and new business will take their place. Maybe we should stop practicing capitalism as monarchy.

Psalm 37 1 Fret not thyself because of evildoers, neither be thou envious against the workers of iniquity. 2 For they shall soon be cut down like the grass, and wither as the green herb. 3 Trust in the Lord, and do good; so shalt thou dwell in the land, and verily thou shalt be fed. 4 Delight thyself also in the Lord; and he shall give thee the desires of thine heart. 5 Commit thy way unto the Lord; trust also in him; and he shall bring it to pass. 6 And he shall bring forth thy righteousness as the light, and thy judgment as the noonday. 7 Rest in the Lord, and wait patiently for him: fret not thyself because of him who prospereth in his way, because of the man who bringeth wicked devices to pass. 8 Cease from anger, and forsake wrath: fret not thyself in any wise to do evil. 9 For evildoers shall be cut off: but those that wait upon the Lord, they shall inherit the earth. 10 For yet a little while, and the wicked shall not be: yea thou shalt diligently consider his place, and it shall not be. 11 But the meek shall inherit the earth; and shall delight themselves in the abundance of peace. 12 The wicked plotteth against the just, and gnasheth upon him with his teeth. 13 The Lord shall laugh at him: for he seeth that his day is coming. 14 The wicked have drawn out the sword, and have bent their bow, to cast down the poor and needy, and to slay such as be of upright conversation. 15 Their sword shall enter into their own heart, and their bows shall be broken. 16 A little that a righteous man hath is better than the riches of many wicked. 17 For the arms of the wicked shall be broken: but the Lord upholdeth the righteous. 18 The Lord knoweth the days of the upright: and their inheritance shall be for ever. 19 They shall not be ashamed in the evil time: and in the days of the famine they shall be satisfied. 20 But the wicked shall perish, and the enemies of the Lord shall be as the fat of lambs: they shall consume; into smoke shall they consume away. 21 The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth. 22 For such as be blessed of him shall inherit the earth; and they that be cursed of him shall be cut off. 23 The steps of a good man are ordered by the Lord; and he delighteth in his way. 24 Though he fall, he shall not be utterly cast down down: for the Lord upholdeth Him with his hand. 25 I have been young, and now an old; yet have I not seen the righteous forsaken, nor his seed begging bread. 26 He is ever merciful, and lendeth; and his seed is blessed. 27 Depart from evil, and do good; and dwell for evermore. 28 For the Lord loveth judgment, and forsaketh not his saints; they are preserved for ever: but the seed of the wicked shall be cut off. 29 The righteous shall inherit the land, and dwell therein for ever. 30 the mouth of the righteous speaketh wisdom, and his tongue talketh of judgment. 31 The law of his God is in his heart; none of his steps shall slide. 32 The wicked watcheth the righteous, and seeketh to slay him. 33 The Lord will not leave him in his hand, nor condemn him when he is judged. 34 Wait on the Lord, and keep his way, and he shall exhalt thee to inherit the land: when the wicked are cut off, thou shalt see it. 35 I have seen the wicked in great power, and spreading himself like a green bay tree. 36 Yet he passed away, and, lo, he was not: yea, I sought him, but he could not be found. 37 Mark the perfect man, and behold the upright: for the end of that man is peace. 38 But the transgressors shall be destroyed together: the end of the wicked shall be cut off. 39 But the salvation of the righteous is of the Lord; he is their strength in time of trouble. 40 And the Lord shall help them and deliver them: he shall deliver them from the wicked, and save them, because they trust in him.

What ever happened to have back up insurance...savings and etc. that what they tell us.

this is the biggest and best example for citizens around the world to stay away from banks and DEBT. you can make money without a bank or any financial institution if you are Debt free. events like these will happen in the future as well. as long as you spend and save according to your capacity and not try to do it over night by borrowing soo much debt that theres no way out. years of patience, slow progress and debt free hard work can make you sustain these type of disasters than to lose everything in few weeks.

Sweden never 'locked down' and yet Sweden still exists and the rate of infection is about equal to those countries who did lock down - so all that extra pain was just pure political insanity!

Finally, America dream turns into America nightmare.

Not only that... Companies will use the losses they have suffered during the pandemic to cut back on hours, wages, benefits, and job availability....

Why did businesses close

you should fear this: And if anyone's name was not found written in the book of life, he was thrown into the lake of fire.

So Trump is lying or he's talking about his rich friends only.

This isn't just a 2020 or COVID-19 problem. When consumers have to spend or companies go bankrupt, because they don't have cash on hand to pay their debts and weather disasters, then your country's "prosperity" is just a mirage.

And yet the stock market is near an all time high giving the false impression that things are rapidly improving. This misconception has probably led to the delay in further stimulus bills that would have hopefully put the plug in before the ship sank. If and when investors realize that things aren't like before the crisis they may leave the market in mass thereby causing a crash like this country hasn't seen since the Great Depression. By that time any stimulus may be after the ship has sunk and thereby ineffective.