Bankruptcies Reach Nearly 5-Year High

U.S. bankruptcy filings have reached the highest level since 2005, government data released on Tuesday show...

More Bad News: Bankruptcies rising with vengeance..

The number of U.S. businesses and individuals declaring bankruptcy is rising with a vengeance amid the recession, despite a three-year-old federal law that made it much tougher for Americans to escape their debts, an Associated Press analysis found.

"There's no end in sight," said bankruptcy lawyer Bryan Elliott of Hickory, N.C., who is working seven days a week and scheduling prospective clients a month in advance. "To be doing this well and having this much business, it is depressing. It's not a laugh-a-minute job."

Source: www.apnews.com

Some denounce Obama's homeowner rescue as unfair

Banks got bailed out. So did automakers. So why not struggling homeowners? The question has struck a raw nerve across the country, with critics saying the Obama administration's latest housing rescue rewards people who bought homes they couldn't afford.

Others counter that the taxpayer-financed plan will slow spiraling home prices and avert a deeper economic disaster...

Read more Some denounce Obama's homeowner rescue..

Source: yahoo! news