Abstract
By many accounts, the economy appears to be recovering from the recession, but defaulted debt in 2004 will probably exceed the levels of the 1990–1991 recession. In this article Benjamin J. Douek cites and explores historical and current economic data—bond default rates, bankruptcy levels, lending practices of banks, consumer debt, and unemployment—to explain how this recession and recovery are different than those of the past (and different than our perceptions of them), their impact on the health and direction of our economy, and why things aren't quite as positive as everybody seems to think. In addition, he addresses how these differences will impact the future of the turnaround and restructuring industry.
- © 2004 Institutional Investor, LLC
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