It's not just the investors and creditors that need to be wiped out. Above all else the managers need to be fired, with no bonuses or golden parachutes.
The 'the only reason a company exists is to make money for the stockholders' is why we're in this mess right now. Because that's the regime management is operating under. And they are delivering what's demanded. Yeah management is looting companies to the detriment of their long term health. But that's allowed because it aligns their incentives with predatory capitalists.