Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Quinn: Don't Wait to Go Bankrupt

It's an embarrassment, but it offers a 'fresh start'

By Matt Cantor, Newser Staff

Posted Jan 5, 2009 11:25 AM CST

(Newser) – Your new year should be a “fresh start”—and if that means filing for bankruptcy, so be it, writes Jane Bryant Quinn in Newsweek. “If you're reaching the end of your rope, don't try to hold on. Save what you can,”... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

1 comment

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Miami Face-Eater Identified

Chagas Disease the 'New AIDS of the Americas'

Newsweek (Source Grid »)

How to go broke
St. Louis Post-Dispatch

personal finance • bankruptcy • asset management • financial crisis • foreclosures

More Newser Stories

Sloppy Lehman Bankruptcy Killed Billions in Value

Speedy process leaves creditors hanging

(NEWSER) - Had Lehman Brothers been more careful in its bankruptcy filing, it could have held on to as much as $75 billion that was destroyed in the process, the firm’s head restructuring agents say. A better-planned filing would have allowed the sale of some assets outside of court proceedings and would have afforded Lehman more time in unwinding its derivatives portfolio, the Wall Street Journal reports. More»

Calif. Portends Recession to Come

The housing bubble burst there first ... is California a sign of things to come in US?

(NEWSER) - Trend-setting California may be the “canary in the mine shaft,” its own recession showing the rest of the country what a national downturn could look like, reports the Wall Street Journal. The state’s $1.8 trillion economy has been bludgeoned by an unemployment rate among the worst in the US at 7.7%, and economists say there’s no end in sight. Nationally, a similar picture is beginning to emerge. More»

Lehman Lives on— and It's Getting Bigger

Financial giants refuse to die, Steven Davidoff explains

(NEWSER) - You might remember Lehman Brothers from its starring role in kicking off 2008's financial crisis by declaring bankruptcy, and hence, you might think it is dead and buried. But you'd be wrong, writes Steven Davidoff in the New York Times : Lehman is actually still shambling around, zombie-like, and what's more, it's trying to get bigger. Courts are still trying to work through Lehman's bankruptcy, the biggest in history, and in the meantime Lehman's estate is trying to buy apartment firm Archstone-Smith. More»

Next Financial Crisis: Collapse of States, Cities

Mounting debt, accounting tricks could set up bust among municipalities

(USER SUBMITTED) - Several US states and cities are sitting on fiscal time bombs that could send the country careening into a domestic version of the EU debt crisis, financial experts warn. Pushed to the brink by the downturn, state and local governments are riding trillions of dollars’ worth of debt—much of it off the books—that could swamp them within a few years, the New York Times is reporting. More»

'Recovery' Looking Like 10-Year Recession

Uncertainty is the 'new normal' in America

(NEWSER) - For many Americans, "recovery" feels a lot like recession—and it may take a decade for that to change, finds the New York Times . At the current rate of job creation, for instance, it would take nine years to recapture jobs lost thus far. Home prices, meanwhile, are down 20% since 2005; even assuming 2% inflation, it would take 13 years for the market to reach pre-crisis levels. Everywhere, offices sit empty. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Quinn: Don't Wait to Go Bankrupt

It's an embarrassment, but it offers a 'fresh start'

personal finance • bankruptcy • asset management • financial crisis • foreclosures

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Sloppy Lehman Bankruptcy Killed Billions in Value

Speedy process leaves creditors hanging

Calif. Portends Recession to Come

The housing bubble burst there first ... is California a sign of things to come in US?

Lehman Lives on— and It's Getting Bigger

Financial giants refuse to die, Steven Davidoff explains

Next Financial Crisis: Collapse of States, Cities

Mounting debt, accounting tricks could set up bust among municipalities

'Recovery' Looking Like 10-Year Recession

Uncertainty is the 'new normal' in America

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?