Tara Siegel Bernard has a post up over at the New York Times Bucks blog about economic indicators, outstanding credit, and bankruptcy filings. She quoted some guy named "Lawless" who really sounds like he knows what he is talking about–probably a good-looking guy too. Punch line — less credit means fewer bankruptcies all other things being equal (which they rarely are).
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2 responses to “A Lot of Wisdom over at the NYT”
Nothing is forever, I remember going to an American Bankruptcy Institute conference in La Quinta (Palm Springs) in December 1999. Outside, it was beautiful California Dreamin’ sunny skies and warm weather. Inside, the climate was bleak. Under President Clinton the economy was booming and bankruptcy attorneys were hurting.
I believe no matter what is the cause of the high number of personal bankruptcy, the point is that we need to curb personal bankruptcy as much as possible. With so many people filing for bankruptcy, it just goes to show that our economy is still in shambles. Until we can stabilized the number of bankruptcy filing, and see sustainable job growth, we can expect this economy to be in this humdrum state.