#12 with a Bullet

Washingon "state ranks 12th in the nation--up from 27th last year--in average monthly growth in bankruptcy filings from 2007 to 2008, reported AACER, a bankruptcy data and management firm." So says the Seattle Times, noting that bankruptcy filings are up 40% compared to last year. The story is worth a full read because it details how the more stringent bankruptcy regulations, which the Bush administration enacted in 2005, has resulted mainly in people taking more debt into bankruptcy court. And Robert Lawless coins what could be the best epitaph for both the reforms and the Bush presidency: "not a very good match with reality."