Bankruptcy – the definition
Tuesday, June 2nd, 2009
As GM declared bankruptcy yesterday much was being said about this American icon taking this step.
I recently heard on NPR a commentator talking about the derivation of the word bankruptcy. The word comes from the Latin bancus which means bench, and ruptus which means broken. A ‘bank’ originally referred to a bench. Bankers had benches so they could conduct business in markets and fairs – i.e. public places. A broken bench indicated that the bank was no longer able to do business. The Italians coined the phrase Continue reading Bankruptcy – the definition
