The one really big bankruptcy that isn’t mentioned here is the federal gov’t.
No, they’re backed up by the full faith and credit of the jack-booted tax collectors who will steal the livelihood of present and future generations of enslaved Americans.
Actually they are backed up by bonds being sold to china and the Saudi’s. As unemployment gets deeper and deeper that means less and less taxes and the gov’t needs to sell more bonds to cover. More unemployment puts more pressure on gov’t entitlements.
The only problem with selling bonds is there is not enough money in the world for foreign investors to buy the bonds with, hence bankruptcy, also known as default when it comes time to honor the interest the gov’t is paying for its deficit.