Record numbers are declared bankrupt as recession bites

UK: The number of people being made bankrupt hit an all-time high during the last three months of 2008, as the country's worst recession in three decades left thousands of individuals unable to pay their debts.

http://tinyurl.com/at5vkl



Irish economy 'worst hit in eurozone'

For 15 years, Ireland's economy boomed, but today it is the country most severely hit by recession in the Eurozone. Every five minutes, a job is lost.

http://tinyurl.com/b3mw3d



Peter Schiff: Stimulus Bill Will Lead to "Unmitigated Disaster"

Schiff scoffs at the notion the economic decline is starting to level off and concedes no government action means a "terrible" recession. But the path of increased government intervention will lead to "unmitigated disaster," says Schiff.

http://tinyurl.com/c4qttg



84% of cities in money trouble

Some 84% of cities say they are facing financial difficulty, according to new survey. Things won't improve this year.

http://money.cnn.com/2009/02/04/news/economy/city_troubles/index.htm



State can run out of money, but can't file for bankruptcy

Federal law permits individuals, businesses and local governments to file for bankruptcy reorganization and sometimes debt forgiveness. States are not covered by the law. No U.S. state has ever declared bankruptcy.

http://www.dailyherald.com/story/?id=269994&src=109


From Information Clearing House



http://freepage.twoday.net/search?q=bankrupt
http://freepage.twoday.net/search?q=recession
http://freepage.twoday.net/search?q=job+loss
http://freepage.twoday.net/search?q=stimulus
http://freepage.twoday.net/search?q=Peter+Schiff

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