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The Biggest Bankruptcies in Corporate History
By siliconindia
Conseco
The Indiana-based finance and insurance company Conseco launched a financial arm of the company in the late 1990s with the purchase of a leader in the mobile home financing industry. But the deal proved to be costly and led to bankruptcy in 2002. Once the company used to trade as high as $58, but after this deal their worth went down less than $1 after the bankruptcy. The company had racked up huge debt from multiple acquisitions and loans to officers to buy company stock.
