Tag Archives: Bankruptcy

As Global Debt Soars, Where’s The Big Recovery?

Around the world, a surge in debt has fueled higher government spending. But that hasn't brought a lasting, sustained rebound in the economy. Adding $30 trillion in debt with no growth to show for it only demonstrates the bankruptcy of Keynesian tax-and-spend policies...

Fiscal Folly: A new study says governments around the world boosted their debts by more than 40% to over $100 trillion in response to the global financial crisis. Where's the promised recovery from all that spending?

From mid-2007 to last summer, the world added $30 trillion in government debt to its balance sheets, the Bank for International Settlements says. By comparison, that's twice the size of the $15 trillion U.S. economy.

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‘Real Housewives’ Couple Faces Jail Time After Pleading Guilty to Fraud

“Real Housewives of New Jersey” star Teresa Giudice and her husband pleaded guilty to federal fraud charges on Tuesday, in crimes that could send them behind bars.

The reality TV personalities, who left a Newark courthouse without speaking to reporters, were ordered to return on July 8 when US District Court Judge Esther Salas will hand down their punishment...

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Federal Bailouts For Cities Would Reward Bad Behavior

Bailouts for Cities?

Advocates for cash-strapped municipalities want Washington to clean up their mess.

Detroit's July bankruptcy filing, prompted in part by its huge worker-retirement debts, has led to calls for a federal bailout of the beleaguered city — and also, by extension, of retirement debt in other fiscally squeezed municipalities. From the New York Times to blogs and union-issued position papers, bailout supporters argue that the citizens and workers of Detroit and other troubled places aren't to blame for their retirement debts...

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Pension Reform or Bankruptcy: Saving the Windy City

Chicago residents are on the hook for over $86 billion dollars.  That’s $83,000 dollars per household.  To put these already egregious numbers into perspective, the average Chicago family only makes $66,000 dollars annually, before taxes.  Chicago’s financial squeeze is preventing the city from providing basic services, and taxpayers are leaving in droves.  Since the 2000 census, over 200,000 people and counting have fled Chicago...

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