Another thing that makes this "recession" different from past recessions

[TwixVoy]

Let us not forget bankruptcy reform shall we? In previous recessions people who were in a situation in which they needed to declare bankruptcy could do so. Now many people who need to do so are being put in a position of still being required to pay all of their debt that they couldn't handle to begin with. This is simply going to prevent people from recovering and starting over. IMO the bankruptcy reform should be repealed. We can bail out mega banks so why not allow a bit of relief to people in debt they can not repay?

Of course let us not forget that the banks pushed bankruptcy "reform" precisely because they knew the situation we are currently in was going down the pipe.

[GoesTo11]

1. Not necessarily

When big investment and commercial banks and insurance cos can't pay their debts now, they just declare too big to failness. That's even better than bankruptcy!