Bankruptcies spike 33%

[brentspeak]

No, this is not Obama's fault. But it will be his fault if he continues with Geithner/Summers Wall Street trickle-down toxic voodoo crap. The choice is his.

The answer to America's demise is to reinvigorate the nation's...

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While simultaneously giving the stiff-arm to China and India's avalanche of dumped imports.

http://money.cnn.com/2009/11/25/news/economy/bankruptcy/index.htm?section=money_mostpopular&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_mostpopular+%28Most+Popular%29

Bankruptcies spike 33%
Number of bankruptcy filings in third quarter of 2009 soars to highest level since 2005. Business bankruptcies filed this year top 2008 total.

Last Updated: November 25, 2009: 2:54 PM ET

NEW YORK (CNNMoney.com) -- The total number of bankruptcies filed in the third quarter surged 33% in 2009 and is at the highest level since 2005, according to data released Wednesday.

The American Bankruptcy Institute, an industry research firm, said 388,485 bankruptcies were filed during the last quarter, compared to 292,291 filed during the same period in 2008, according to data released by the Administrative Office of the U.S. Courts.

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The ABI report said business bankruptcy filings rose 32% in the third quarter of 2009 to 15,177, and filings for the first nine months of the year totaled 45,510, topping the total 43,546 business bankruptcies filed in 2008.

Personal bankruptcies increased 33% to 373,308 during the last quarter, led by a 42% hike in Chapter 7 filings, which totaled 265,721. The number of consumers filing Chapter 13 bankruptcies rose 15% to 107,142 filings in the third quarter, according to ABI.