Many celebrities go bust leading lavish lifestyles. The amounts of money some people spend on the most ludicrous whims are mind-boggling. No wonder they loose control over their finances and end up debt-laden. Apparently you need some special skills to waste so much money. Spectacular bankruptcies have always been part and parcel of show business. What's even more disturbing, however, is the fall of corporations and lack of financial stability worldwide.
The economic crisis has taken its toll and it appears that some huge companies were built on flimsy foundations and some huge manufacturers and financial institutions have or have almost gone down the slippery slope of bankruptcy.
Bankruptcies are usually sum total of various events and circumstances. The difference between individual and corporate bankruptcies is quite considerable so it's impossible to find a common denominator. The main factors which come into play are: lack of financial stability on markets worldwide, widespread consumerism, price fluctuation and irresponsibility.