Jul 16 2009
Bankruptcy Filings up 33 Percent over a 12-month Period: Total 12-month Total of Bankruptcy Filings 1.2 Million. In last Report, Filings up 27 Percent in one month.
Bankruptcy filings are soaring in the United States. In the last data point, we had 134,282 bankruptcy filings for the month of March 2009. Bankruptcy data usually lags 3 or 4 months but the trend is ominous. For the last 12 months some 1.2 million bankruptcy filings have occurred. Much of this is linked to [...]
Jul 12 2009
S&L Crisis Part Two: Are We Repeating Mistakes from the S&L Crisis? Accounting Sleight of Hand and Mortgage Fraud.
During the savings and loan crisis (S&L crisis) of the 1980s and 1990s a total of 745 thrifts failed. If we look at the history of the crisis, total losses were largely saddled to the American taxpayer. It is estimated that some $160.1 billion was the total bill for the crisis with roughly $124.6 [...]
