Top 12 Largest Bankruptcies in US History

No.9 Chrysler

Chrysler is one of the major U.S. car makers that was severely affected by the recent recession. Before filing for bankruptcy in 2009, the company had assets worth about $39 billion. With help from various bailouts, including U.S. government, Chrysler managed to get back on track. However, in 2011, Chrysler was purchase by the Italian car maker Fiat. With the impossibility of the U.S. government to recover the money it paid out for Chrysler’s bailout, the government lost about $1.3 billion because of the car maker’s bankruptcy.