Teresa Giudice

Teresa responds to recent bankruptcy rumors and sets the record straight for inquiring fans.

on Jul 27, 2010

 

Hello Baby Dolls!

Alright, I'm going to dive right in here. I don't read the tabloids and I've been spending my days with my four little girls, so I really only heard about all the new stories circulating about me late last night from my fans. Thank you all for the heads up, for the wonderful wishes and prayers!

Since I don't really pay attention to the gossip, I don't usually respond to it, but I've gotten so many questions from you all that I want to let you guys know the truth.

As you know, Joe and I filed for bankruptcy protection back in October 2009 primarily because of real estate deals gone bad in a bad economy. We didn't spend millions of dollars on gold toilets or private planes. We bought buildings, fixed them up, and tried to help other people start their own businesses or be able to afford an apartment. The economy crash trickled down to everyone. We worked so hard for so many years and it was heartbreaking to file, and not something we took lightly. Of course you can't sit in your bed and just cry all day, so we moved forward, got new jobs, and are working hard once again. The point is to get a fresh start so you can move forward.

If we didn't give fresh starts to people, we wouldn't have the following great American companies that were only able to be created after their owners' filed bankruptcy: The Walt Disney Company, Hilton Hotels, Hershey's chocolates, Macy's department stores, Heinz ketchup and even WalMart. If Sam Walton hadn't filed bankruptcy after his first store failed, he wouldn't have been able to build the largest company in the world that employs more people than any other: 2 million!