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Bankruptcy Filings up 100 Percent from 2007

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posted on Dec, 9 2009 @ 08:34 AM
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We all know it's bad, but just how bad is it become, and how much worse can it get.




The U.S. Courts released data last week closing out the 2009 fiscal year. In the release we find that bankruptcy filings are up 100+ percent from 2007. No other economic vehicle shows deeper signs of financial strain than bankruptcy.



In 2005, Bush allowed the Credit Card industry to re-write the US personal Bankruptcy laws. Can anyone say Conflict of interest.



In 2005, the bankruptcy code was redesigned by the banking oligarchs to stick it to the average American yet again. That is why if we look at quarterly filings, we see an enormous spike in 2005 before the modern debtors’ prison made its way back:


Not much here that we all don't already know or suspect, but still an informative read.

Source Article




posted on Dec, 9 2009 @ 01:51 PM
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reply to post by Rhetoric
 


Just wait for the commerical real estate bubble to pop.. then the banks will really start being bankrupty



 
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