So basically stick it the workers while we give trillions to bail out businesses. The feds need to bailout the states just like they are bailing out everyone else.
The Auto unions were bailed out by Obama at taxpayers' expense.
Are you saying that the workers should be made whole at everyone's expense?
With big businesses that employ thousands and are a major part of the economy, there's an argument to be made to save them from going under (in exchange for concessions).
Bankruptcy would not only "stick it to the workers" it would also "stick it to Municipal Bond holders" and possibly many others. Pensions would probably get the smallest hit.