Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Magazine

Table: Going Broke


In high-tech hubs such as San Francisco and New York, personal bankruptcy filings have risen sharply in the past few months. A few key reasons:

THE DOT-COM HANGOVER

They financed their monied lifestyles on credit cards. Now that they've been laid off from dot-coms, they want to wipe out their $50,000 bills.

STOCK OPTION HELL

They exercised shares without selling them, only to see stock prices crash. Now they owe hundreds of thousands and lack the cash to finance their other liabilities.

CHANGING LAWS

Many are scrambling to take advantage of the current consumer-friendly laws, which allow them to wipe out certain debts, before new, stricter laws under way in Congress take effect.

Data: BusinessWeek


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus