General Growth Finally Goes Down

By: Bullish Bankers Sunday, April 19, 2009 9:07 PM

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Early Thursday morning, the managers of General Growth Properties (GGP) opted to file for Chapter 11 Bankruptcy protection. General Growth has been the poster child of extreme overleveraging in the real estate industry. The filing totals approximately $24 billion in debt and is the largest real estate bankruptcy in U.S.

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