By some accounts the entire banking system is close to paralysis, raising the possibility of a cascade of defaults that could lead to widespread bankruptcies.

In the early 1980's, a financial crisis set off a recession and widespread bankruptcies in Chile.

During the 1990's, opponents of legalization raised the specter of widespread bankruptcies and broken homes.

That raises the specter of widespread bankruptcies if ordinary Argentines are suddenly forced to pay 30 or 40 percent more pesos to meet their obligations.

But his management of Newfoundland's financial affairs, including an early program of subsidized industrialization that led to widespread bankruptcies, was sharply criticized.

We need a program that is a true safety net and prevents widespread bankruptcies but that doesn't prop up profits that can't be supported by the market.

The ensuing financial panic, in conjunction with a sudden recovery in European agricultural production in 1817 led to widespread bankruptcies and mass unemployment.

The soaring share prices during the boom, were rapidly followed by pessimism, plummeting prices and widespread bankruptcy.

Job guarantees would be abolished in favor of a labor market, with an unemployment program to handle the casualties of widespread bankruptcies and layoffs.

This led to widespread bankruptcies without legal protection, massive unemployment without a social safety net, and the prompt withdrawal of foreign capital.