Bankruptcy

It Is An Ill Wind

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Hattip to Instapundit.   As faithful readers of this blog know, I am, for my sins no doubt, an attorney.  My bankruptcy practice has grown 20-25% each year of the Obama administration:

 

Tax refunds being used to pay for bankruptcy filings. “More than 200,000 money-strapped households will use their tax refunds this year to pay for bankruptcy filing and legal fees, says a new study by the National Bureau of Economic Research.” Continue reading

Hard Times and Bankruptcy

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Hattip to Ed Morrissey at Hot Air.   As regular readers of this blog know, I am, for my sins no doubt, an attorney.  I was examining the year end stats for my practice, and I noticed that the legal fees I derived from my bankruptcy representation of creditors and debtors almost doubled in 2009 over what they were in 2008.  Therefore, I was little surprised to read that bankruptcies were up 32% in 2009. 

U.S. consumers and businesses are filing for bankruptcy at a pace that made 2009 the seventh-worst year on record, with more than 1.4 million petitions submitted, an Associated Press tally showed Monday.

The AP gathered data from the nation’s 90 bankruptcy districts and found 1.43 million filings, an increase of 32 percent from 2008. There were 116,000 recorded bankruptcies in December, up 22 percent from the same month a year before. Continue reading

Pension Wipeout

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In a time when government bailouts are the current craze, it is perhaps impolitic to note that governments at all levels cannot meet the obligations they currently have, let alone fund massive new undertakings.

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