Bankruptcy is a legal proceeding in which you put your money in your pants pocket and give your coat to your creditors.

Summary

This quote humorously highlights the concept of bankruptcy, emphasizing the idea that when one declares bankruptcy, they may have little money left, but are still obligated to give whatever little they have to their creditors. It captures the image of financial ruin and the relinquishment of one's possessions to settle outstanding debts. With a touch of wit, it underscores the realization that bankruptcy often leaves individuals in a precarious financial state, where they have nothing more left to offer.

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