Ten Largest Bankruptcies in History

December 30th, 2010
in Background, Banking

Wall Street Cheat Sheet:  Five of the ten largest bankruptcies in history are not financial sector companies.  Some those 'not banks' collapsed due to outright fraud, but the basic theme for banks and non-banks alike is, no surprise, overleverage.

Follow up:

Of course, the list would have been dominated by more financial institutions if behemoths AIG, Citigroup and Bank of America had not been bailed out.  Perhaps the entire financial sector might have collapsed and the top ten list would have been all banks and insurance companies.  See the complete list and read more.....

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