This has been a year 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.
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
