“In 1978, we adopted a new Bankruptcy Code in the United States, and a principal part of this was designed to adjust to the new corporation, to find ways to let a corporation that had gotten into financial trouble reorganize itself. A big part of the selling point on this bankruptcy law was, 'It will preserve jobs.'”

Elizabeth Warren is an American politician and former law professor. A progressive Democrat, she has served as the senior United States senator from Massachusetts since 2013. In the Senate, Warren has focused on consumer protection, fair economic opportunity, and the social safety net. She also ran for the Democratic presidential nomination in 2020 and finished third, behind Joe Biden and Bernie Sanders.