The Largest Bankruptcies in History

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 |  Includes: CNO, GM, LEH, WMIH
by: Market Folly

Great graphic up courtesy of Good magazine where they post up the largest bankruptcies in history. They use sinking ships to illustrate their point, with Lehman Brothers by far being the largest ship of the bunch:



Here are some of the breakdowns of the largest US bankruptcies, courtesy of CNN Money:

  1. Lehman Brothers Holdings (LEH) on 9/15/08 with $691 Billion in Assets.
  2. Washing Mutual (NYSE:WM) on 9/26/08 with $327.9 Billion in Assets.
  3. WorldCom on 7/21/02 with $103.9 Billion in Assets.
  4. General Motors (GMGMQ.PK) on 6/1/09 with $91 Billion in Assets.
  5. Enron on 12/02/01 with $65.5 Billion in Assets.
  6. Conseco (NYSE:CNO) on 12/17/02 with $61 Billion in Assets.
  7. Chrysler on 4/30/09 with $39 Billion in Assets.
  8. Thornburg Mortgage (OTC:THMR) on 5/1/09 with $36.5 Billion in Assets.
  9. Pacific Gas and Electric Co. 4/6/01 with $36 Billion in Assets.
  10. Texaco on 4/12/87 with $34.9 Billion in Assets.
Well, at least we all have some nice stories for the grandkids. Oh, wait, never mind: We won't even be able to afford kids, much less grandkids. After all, the government spent tons of money (courtesy of our future) that was kindly used to keep afloat numerous other ships that are not pictured above. We didn't know U.S. dollars could be used as a flotation device...