Sublating the debt standard

We have sublated the gold standard in our credit systems Let us push on self consciously toward the system of risk baring by the whole people Why use existing firm debt as the standard for future credit lines ? Imagine a firm defaults all it's officers are fired and replaced What more can be expected by retaining the existing debt saddle ? Yes the fired management team needs to get clobbered Blood from a stone ? Recall escrowed compensation system What about the creditors ? Again if this is players with other peoples money once removed They get clawed too Direct creditor hu caps ? Prolly a insignificant fragment Debt is part of keeping score Once incentives of agents reflect the score 'nough said and done