Can the U.S. Compel Public Service in Exchange for Debt Relief

Abstract

I explore the legality of requiring people to perform public service in exchange for federal aid that reduces their debt. As the U.S. government has bailed out banks, insurance companies, and the auto industry, it has imposed tough terms on companies. Executive pay has been capped, CEOs have been fired, and the government has ordered massive reorganizations. To avoid onerous terms, some banks have repaid their bailout.