The Top 10 Biggest Bankruptcy Cases in US History.

by J. Money on Wednesday, September 17, 2008

You can’t really do anything with this, but it sure does give you a quick scope of how dreary this week’s major crisis was! I saw this on Consumerist, who saw it on CNBC, and you can now see it on here ;) Again, i post it just for shock value…unfortunately i don’t have a way to spin this one positively:

The Top 10 Biggest Bankruptcy Cases in the History of the US:

10) United Airlines – Assets: $25.2 billion (Date Filed: Dec. 9, 2002)
9) Pacific Gas and Electric – Assets: $29.8 billion (Date Filed: April 6, 2001)
8) Global Crossing – Assets: $30.2 billion (Date Filed: Jan. 28, 2002)
7) Refco – Assets: $33.3 billion (Date Filed: Oct. 17, 2005)
6) Financial Corp. of America – Assets: $33.9 billion (Date Filed: Sept. 9, 1988)
5) Texaco – Assets: $35.9 billion (Date Filed: April 12, 1987)
4) Conseco – Assets: $61.4 billion (Date Filed: Dec. 18, 2002)
3) Enron – Assets: $63.4 billion (Date Filed: Dec. 2, 2001)
2) Worldcom – Assets: $103.9 billion (Date Filed: July 21, 2002)
1) Lehman Brothers – Pre-Bankruptcy Assets: $639 billion (Date Filed: Sept. 15, 2008)

CRAZY, right? I mean, look at that difference between #1 and #2, that is seriously insane! I know that inflation occurs over time and that these #’s would look different back in 1988, but that is definitely a huge fall. Let’s just hope the #1 stays #1 for decades to come.

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