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[Commentary] © 2003-2011 Philip Hyde, The Timesizing Wire™, Box 117 Cambridge MA 02238 USA (617) 623-8080

The Boom in Bankruptcies
Today, though rarely mentioned by our captains of industry, bankruptcies are crowding into US media.  First, check the big picture historically & recently -
      1/04/2011   Personal bankruptcies in the U.S. topped 1.5 million last year, rising 9% from 2009 as more households
      buckled under debt loads
, Wall St Journal, A1 pointer to A2.
Second, note that the bankruptcy "reform" act that creditcard companies have been fighting for in the U.S. mainly serves to let creditcard debt survive bankruptcy, just as alimony and student-loan debt already do, thus rendering the bankruptcy law ineffective and plunging us back into the days of debtors' prison, despite the enshrinement of the right to bankruptcy in the Constitution. With the passing of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) in 2005, debtors are now required to pass a "means test" before they can turn to a Chapter 7 Attorney to effectively eliminate their debt. (Americans still have a clear right to *debt consolidation, and as of the financial crisis of late 2008, literally millions are looking to that option.)
Then, the details, from the few examples picked up by the Wall Street Journal (WSJ) and the New York Times (NYT) -

1/04/2011   Bankruptcies are now listed under "tsunami of BANKRUPTCIES and CLOSINGS" in our daily updates on our homepage and its archives as they make the front pages of (mostly) the Wall Street Journal and the New York Times - with outstanding exceptions that we copy here, such as this -


1/05/2010   NYT & WSJ bankruptcies are now listed in our daily updates on our homepage and its archives, with occasional discursive exceptions like the following -


11/09/2009   NYT & WSJ bankruptcies are now listed in our daily updates on our homepage and its archives, with occasional discursive exceptions like the following -


11/18/2004 & later   NYT & WSJ bankruptcies are now listed in our daily updates on our homepage and its archives, with occasional discursive exceptions like the following -

12/31/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - 12/29/2003  1 bankruptcy mentioned in (WSJ) Wall Street Journal &/or (NYT) NY Times - .
.
.
For earlier bankruptcies from NYT or BG, click on the desired date -
  • Sep-Dec/2003.
  • May-Aug/2003.
  • Jan-Apr/2003.
  • Oct-Dec/2002.
  • Jul-Sep/2002.
  • Apr-Jun/2002.
  • Jan-Mar/2002.
  • Aug-Dec/2001.
  • Mar-July/2001.
  • Jan-Feb/2001.
  • Dec/2000.
  • Oct-Nov/00.
  • Jul-Sep/00.
  • Jan-Jun/2000.
  • Aug-Dec/1999.
  • Prior to July 31/99.

    For more details, see our laypersons' guide Timesizing, Not Downsizing, which is available online from *Amazon.com and at bookstores in Harvard and Porter Squares, Cambridge, Mass.

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