Huge Jump in Business Bankruptcies Likely in Coming Months, and How It Will Affect the U.S.

Leslie begins the hour with her 'Ripped from the Headlines' news segment. Here are the stories that she covered during the segment:

1. NBC NEWS: "U.S. passes 1 million cases of COVID-19"
2. WASHINGTON POST: "President’s intelligence briefing book repeatedly cited virus threat"
3. WASHINGTON POST: "The U.S. plans to give $500 billion to large companies. It won’t require them to preserve jobs or limit executive pay"
4. AXIOS: "Mnuchin says SBA will do "full review" of PPP loans over $2 million"
5. AXIOS: "Coronavirus is tied to climate and biodiversity crises"
6. CNN: "Arizona GOP chair encourages anti-stay-at-home protesters to dress like health care workers"
7. THE DAILY BEAST: "Pence Flouts Mask Policy While Visiting Staff, Patient at Mayo Clinic"

She's then joined by Toddy Duffy, Co-Founder of the Law-Firm DuffyAmedeo LLP. Todd attended law school at St. John’s University School of Law and obtained his law degree in two and a half years. After law school, he clerked for Chief Judge Stephen D. Gerling of the Northern District of New York Bankruptcy Court. After his clerkship, Todd was associated with several large Manhattan firms and participated in many of the largest and most complex bankruptcy cases in the last twenty years. Todd is also a past Chair of the Bankruptcy Committee of the New York County Lawyers’ Association.

Leslie and Todd discuss the "flood of business bankruptcies" being "likely in coming months," as reported by the Associated Press. Todd explains why, especially during a disaster like the COVID-19 pandemic, bankruptcy does not signify that a business is a failure. Rather, it is a tool that a business can use to level the playing field amid the economic fallout from a disaster that they had no hand in making.

Todd's website is DuffyAmedeo.com and his Twitter handle is @ToddEduffy.