Jay Rockefeller: “over the last years, as the economy came down from the highs of the 1990s, we have seen devastating corporate…”

“over the last years, as the economy came down from the highs of the 1990s, we have seen devastating corporate bankruptcies and how they can affect workers and their families. I have seen that in my State, and we have all seen that in our States. From the enormous Enron bankruptcy at the end of 2001 to the bankruptcies in my State, Ohio, and Pennsylvania, of Wheeling-Pitt, Weirton Steel, Horizon Natural Resources, and involving also Kentucky, every bankruptcy has brought heartache for workers who had dedicated themselves to employers, many of them for many years. In many cases, employees and retirees have very limited ability under bankruptcy to recover their wages, to recover their severance or any benefits they are due when companies seek protection from their creditors. Workers deserve better. And as we debate changes to our Nation's bankruptcy laws, Congress must address, in this Senator's judgment, these injustices. Today I am offering an amendment to strengthen the rights of workers and retirees in bankruptcy.”