Is Bankruptcy Different for the Wealthy?

[Moooooo]

Interesting post I found over at the Economics blog I read on a daily basis.

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Thoughts?

[Citizen James]

I haven't had any luck sourcing the quote - which seems to be attributed to a number of different people (I searched the phrases "capitalism for the poor" "socialism for the rich"), though it doesn't sound to me like the sort of thing King would say.  Gore Vidal seems plausable, but I was unable to find any site that I would consider a highly reliable source to confirm it.

Perhaps more accurately, socialism for the ultra-rich, capitalism for the merely rich and middle class, social darwinism for the poor as far as I can tell.

In my own (admitedly limited) exprience with bankruptcy (loss of work + medical expences), the people who had lawyers with them faced far more probing quesitons than those who had simply fallen on hard times.  I basicly got two questions - do you swear your statements to be true to the best of your knowledge, and does anyone owe you money.

Granted, this was before the 'reforms' making bankruptcy harder on the poor and easier on the rich were enacted a few years ago, and I don't live in the puritanical southeast where virtual slavery is still considered acceptable.