132,173 bankruptcy filings in October, Don't worry, Republicans took the House and Fast Money is Excited About QE-2

132,173 Americans filed for bankruptcy

in October. This is truly a sad commentary

of what has and continues to occur

in this country.

November 2, 2010, Alexandria, Va.— U.S. consumer bankruptcy filings totaled 132,173 nationwide during October, a 1.4 percent increase over the 130,329 total consumer filings recorded in September, according to the American Bankruptcy Institute (ABI), relying on data from the National Bankruptcy Research Center (NBKRC).

While the October consumer filings represented an increase from the previous month, they represented a 2.75 percent decrease from the October 2009 total of 135,913. Chapter 13 filings constituted 29.7 percent of all consumer cases in October, a slight decrease from September.

“As the issues of unemployment and economic stress weigh heavily on today’s elections, consumers continue to seek the financial shelter of bankruptcy,” said ABI Executive DirectorSamuel J. Gerdano. “We anticipate that there will be nearly 1.6 million consumer bankruptcy filings by year end.”

More consumers filed for bankruptcy during the first 10 months of the year than for the same period in 2009, according to the institute. About 1.3 million consumers sought court protection from their debts so far this year, compared with about 1.2 million through October in 2009.

It can only get better, Republicans

took over the House and

Bernanke announces QE-2

and CNBC is Giddy...sleep well America