@2 Many decades ago my father told me that he worked for a small company in Brooklyn that supported the war effort-- meaning the Korean War or the Cold War. He said the family-owned company where he worked for ten years suddenly declared bankruptcy and everybody was out of a job and on the street.
He was reminiscing and he showed me some old photographs.
A few weeks later I took my retired parents on a picnic to New Jersey-- directly across Manhattan-- and after a half-hour's drive or so, I pulled up to this rustic, old brick factory with a dozen cars in its parking lot.
"Dad, do you recognize the sign?"
He was flabbergasted.
"But, but how could that be?"
This was the same company that declared bankruptcy in Brooklyn, now operating in NJ.
We ventured in and an old foreman was still there who remembered my father and they enjoyed a remarkable reunion. One of the family member owners was there as well.
After all the huckle-yuckle-chuckle, I finally cleared my throat and asked: "So, your company declared bankruptcy in 1960, huh?"
Embarrassed by my sudden question, the scion replied humble-mumble-chumble.
I stared at him, gave him a break and smiled, then took my parents to one of the parks near the Palisades for our delicious picnic that I had prepared.
During the repast and on the drive home, I had to explain to my parents the ruthless concept of bankruptcy to escape liabilities and paying pension checks.
So. A rising tide does not raise all shits?