AFA Foods Bankrupt Over Pink Slime

This is actually the Chicken version,

which makes McNuggets.

http://finance.yahoo.com/news/afa-foods-files-bankruptcy-citing-141838670.html

A win for free market economics (when the truth is known).

California Sliding Towards Bankruptcy

Funny, the state has an economy bigger than most countries...

http://campaign2012.washingtonexaminer.com/article/california-slipping-toward-bankruptcy-again/409341

Air Australia's Bankruptcy Is A Mess

http://www.smh.com.au/business/collapse-costs-creditors-millions-20120217-1tea8.html 

4000 people stranded across the world. There should be a law that stipulates any airline going into default has to first pay back any flight costs for purchased tickets.

Olympus Admits Losing 60% Of Companys Value Last Year

http://www.japantimes.co.jp/text/nb20120214n1.html

No shit, 60% lost..gone..vanished. Bankruptcy anyone?

Ireland's Richest Man Is Bankrupt

http://www.forbes.com/sites/edwindurgy/2011/11/11/former-billionaire-declares-personal-bankruptcy/

He doesn't sound like a bad guy, nothing I saw about his screamed greed.  He just made a real bad bet in the US/UK real estate market.