What is Section 12 Bankruptcy?


1.

As opposed to Section 11, if you file for Section 12 bankrupcy, and you're successful, it means the Fed will bail you out.

AIG were succesful in their bid for Section 12 Bankruptcy, whereas Lehmann Bros were allowed to go under.

See crisis, wall street, dustbowl, monopoly money


0

Random Words:

1. abreviation for "weapon of ass destruction" Damn, lookit dat ass. I'd like to whip out my W A D and blow a wad on her fa..
1. Used to describe the actions of someone unable to complete a full sentence in an online game or any other form of internet conversation...
1. An short obese child who often spends his days in front of a tv playing videogames or plays magic with outcast children, only to increas..