Kansas senator files for bankruptcy

"A state senator who serves on the Ways and Means Committee and other financial panels has filed for personal bankruptcy.

Andover Republican Ty Masterson says most of his debts are from a failed business in 2006. The Wichita Eagle reports Masterson lists more than $800,000 in unsecured debts that aren't tied to assets or collateral."

http://hutchnews.com/Localregional/bankruptcy2011-03-06T20-37-16
 
 
 
See even the powerful and rich file bankruptcy, there is no shame in it.