Bankruptcy Lawyer Blog

With the Dow taking another fresh hit, many people should strongly start considering personal and/or business bankruptcy. Even Berkshire Hathaway took a huge hit and is now in the $2,500 range for the Class B shares, uncharted territory for sure. Here in Seattle things have been relatively mild, except for the famous collapse of Washington Mutual. I worked with a lot of people at PricewaterhouseCoopers that eventually went over to WAMU and it’s a tough time for many of them trying to find work.

If you are worrying excessively about your financing, consider all your options. If you have any inkling that bankruptcy may be an avenue you want to pursue consider getting free professional bankruptcy advice from a licensed attorney. It never hurts to fully explore your options.

With the economy continuing to struggle talk of a second stimulus check is gaining ground. Given how far and how fast the world economy has cratered, a second stimulus check for US citizens might not be a terrible thing. It’s mind boggling to think our US deficit is approaching 1 Trillion dollars, but rather than sit back and let everything melt down it doesn’t hurt to try some things that may spur economic development. I also wouldn’t be surprised to see the Federal Funds rate lowered all the way down to 0.5% - to hopefully spur loans between banks and even more importantly from banks to consumers.

What do you think? Do we need another stimulus check? What about a tax break? How broad should these be?