Link: http://wsws.org/articles/2011/jan2011/bank-j06.shtml

The number of people in the US filing for bankruptcy rose by 9 percent last year to 1.53 million, as more working families fell victim to job losses, plunging home values and unforgiving creditors. The figure was the highest since 2005 when changes in the bankruptcy laws making it more difficult and costly to file led to a sharp decline in the number of Americans seeking court protection. The recent spike in cases—despite the added costs and legal hurdles—is indicative of just how desperate large segments of the American population are despite the official claims of an economic recovery. But the corporate media keeps telling us we are in the midst of a recovery...