More to the point, just about everyone in the region will wind up paying for it. First, it will directly affect the employees. They will be denied wage increases and/or there will be a hiring freeze. In some cases, we will see even more layoffs in a region with constantly rising rates of unemployment.

Then, costs will be passed along to consumers. For someone like myself without medical insurance, the cost of a hospital visit is already unbearable, yet this is one of the employers affected by this collapse. Then there are the local governments who are a part of this trust. The increased burden on them will obviously be passed along to the taxpayer. These are just a few examples.

Bad times friends, and things are still getting worse. The fallout from this will be felt for years to come. And this is only one of many stories of the crumbling economy.