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Bailing Out on Bankruptcy
Bailout vs bankruptcy
Recent government bailouts of private businesses have generated debate about whether the time-honored institution of bankruptcy is the appropriate mechanism for dealing with big business insolvency. Naysayers of the TARP bailouts contend that rescued businesses are candidates for bankruptcy and that bolstering them with public funds not only fails to address underlying [...]
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Celebrity Bankruptcies
Bankruptcy for the rich and famous? You bet. Here are a few celebrity bankruptcies noted today in Parade Magazine:
Mike Tyson
The former world heavyweight once had an estimated worth of $300 million. But with an incredibly lavish lifestyle — including pet tigers, a custom-built Bentley, and a removable glass roof on his mansion — [...]
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Bankruptcy Is the Answer for Many
The last resort
You can’t make your mortgage payment. Or you’ve lost your job and are faced with a mountain of credit card debt. Either way, you’re a casualty in the nation’s economic avalanche and you find yourself contemplating the last resort — bankruptcy. Bankruptcy is a choice more and more Americans are willing to [...]
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