Hi All,

Well, it looks like the nation isn’t out of the woods yet. According to new data from the National Bankruptcy Research Center nearly 40% more consumers have gone belly up than last year – for a grand total of 106,266 filings in 2007 (here). This is a very high number. There is some speculation that legislation passed in 2005 may have backfired by allowing credit card companies to increase junk fees, thereby fueling the number of bankruptcy filers (here).

Awesome. This why special interest should not interfere in free markets.

Best,

James

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