This has been a week of superlatives. AIG: the biggest government bailout. Lehman: the biggest bankruptcy. Russia: the worst financial crisis since the country defaulted a decade ago (and now home to the world's cheapest stocks). What's more, the Dow Jones industrial average dropped to its lowest close in more than two years on Wednesday. And today, U.S. stocks rallied the most in six years.
Here's a list to cap the week off. The Consumerist posted a list of the 10 Biggest Chapter 11 Bankruptcies in U.S. History (culled from a CNBC slideshow and Bankruptcydata.com). Drum roll, please:
10. United Airlines
Assets: $25.2 billion
Date Filed: Dec. 9, 2002
9. Pacific Gas and Electric
Assets: $29.8 billion
Date Filed: April 6, 2001
8. Global Crossing
Assets: $30.2 billion
Date Filed: Jan. 28, 2002
7. Refco
Assets: $33.3 billion
Date Filed: Oct. 17, 2005
6. Financial Corp. of America
Assets: $33.9 billion
Date Filed: Sept. 9, 1988
5. Texaco
Assets: $35.9 billion
Date Filed: April 12, 1987
4. Conseco
Assets: $61.4 billion
Date Filed: Dec. 18, 2002
3. Enron
Assets: $63.4 billion
Date Filed: Dec. 2, 2001
2. Worldcom
Assets: $103.9 billion
Date Filed: July 21, 2002
1. Lehman Bros.
Pre-Bankruptcy Assets: $639 billion
Date Filed: Sept. 15, 2008
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