Whatever you do, please don't even consider questioning the economic policies of the Republican party because they are the masters of the universe. As long you ignore the facts on the ground you will be fine.
Fremont General Corp, which was one of the largest U.S. providers of subprime mortgages before regulators ordered it to stop making the loans, was the largest filing of the year with $13 billion in pre-petition assets, BankruptcyData.com said. Fremont filed for Chapter 11 bankruptcy protection in May, after arranging to sell bank branches and deposits to CapitalSource Inc.
SemGroup LP, the energy trader which filed for bankruptcy protection from creditors last week, was the second-largest bankruptcy filing of the year with $6 billion in pre-petition assets.
"We seem to be in the midst of a 'perfect storm' leading to more bankruptcies: high levels of debt, high energy and raw materials costs and weakness in the U.S. economy," George Putnam, III of New Generation Research, which publishes BankruptcyData.com said in a statement.
He forecast bankruptcies could peak as early as the middle of 2009 or continue rising well into 2010.
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