🚀 go-pugleaf

We now have bankruptcies at record levels.

Good job, you filthy, degenerate, subversive, marxist oriented muck beings.

lol

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http://news.lycos.com/news/story.asp?section=Breaking&storyId=230967

Bankruptcies Rise to Record in Second Quarter
by Andrew Clark
Friday, August 24, 2001 2:13 p.m. EDT

- - - - -
WASHINGTON (Reuters) - Strapped by the slumping economy and spooked by a
looming change in the law, Americans filed for bankruptcy in record numbers in
the second quarter of 2001, according to data released on Friday.

The Administrative Office of the U.S. Courts said personal and business
bankruptcies totaled 400,394 between April and June, a 9 percent increase over
the first quarter and an almost 25 percent jump from the same period last
year.

Experts have been predicting bankruptcies will be on the upswing this year as
the U.S. economic slowdown puts the bite on consumers and companies alike.
Bankruptcy filings last peaked at 373,460 in the second quarter of 1998.

But the scale of the surge still left many slightly breathless. "It's
borderline shocking, actually," said Sam Gerdano, executive director of the
Alexandria, Virginia-based American Bankruptcy Institute.

Personal bankruptcy filings totaled 390,064 in the second quarter, up a full
24.8 percent from the 312,486 recorded in the same quarter of last year.
Business bankruptcies rose a more modest, but still hefty, 11.8 percent to
10,330.

Buoyed by the longest economic expansion in U.S. history, consumers binged on
debt over the last decade, and are now facing the consequences as the boom
wanes, Gerdano said.

[...]


--
"If ye love wealth better than liberty, the tranquility of servitude better than
the animating contest of freedom, go home from us in peace. We ask not your
counsels or arms. Crouch down and lick the hands which feed you. May your chains
set lightly upon you, and may posterity forget that ye were our countrymen." --
Samuel Adams 1776.