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The (Bankrupt) Yellowstone Club

Allow us to savor a bit of schadenfreude with this news: The tony Yellowstone Club has filed for bankruptcy. The swanky, members-only resort outside of Big Sky, Montana--that counts former VP Dan Quayle, cyclist Greg LeMond and Bill Gates as members--couldn't seal a new investment deal and so has asked a federal court for protection from creditors as it reorganizes its finances.

The sprawling complex already boasts a golf course, private skiing and clusters of log-cabin style "residences," as well as three mountain lodges where--we imagine--Bart Bass-style captains of industry feast on ortolan and quaff centuries-old port.

Just weeks before US Treasury Secretary Paulson started handing out billions to banks, The Yellowstone Club was planning to add 450 additional condos, a spa and even more skiing. Needless to say, those plans are now on hold. Maybe if the resort goes out of business the rich will be stuck buying "cheap" $62-a-day lift tickets like the rest of us!

Related Stories:
· The Yellowstone Club [Official Site]
· Exclusive Yellowstone Club Files for Bankruptcy [AP, via Google]
· Skiing coverage [Jaunted]