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While the term bankruptcy is often associated with financial ruin, it actually has historical roots. The word itself derives from the Italian phrase meaning "broken bench," harkening back to a time when money dealers operated from makeshift tables. If they ran out of funds, their bench was literally broken, signifying their exit from business. This historical context serves as a reminder of the severe consequences of financial mismanagement.
Recent High-Profile Bankruptcies
Charles highlights three notable recent bankruptcies that speak to broader trends in corporate America, emphasizing the common theme of overexpansion and unsustainable business models.