2300%. The raw increase in bankruptcy filings is 360%. Should be adjusted down a tad for population growth. Related reading would be Peter Gosselin's series in the la times on the costs of economic risk being shifted down the throats of working Americans.
"Most of the credit cards that end up in bankruptcy proceedings have already made a profit for the companies that issued them," said Robert R. Weed, a Virginia bankruptcy lawyer and onetime aide to former Republican House Speaker Newt Gingrich. "That's because people are paying so many fees that they've already paid more than was originally borrowed."
:: posted by buermann @ 2005-03-03 12:53:17 CST |