Bankruptcy Blogs

Moody's CEO Is Wrong - We Need Rating Agency Reform

06/18/13

The SEC's recent roundtable on ratings shopping in structured finance was a reminder of how efforts at reform are obstructed by a wall of denial.

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The Daily Docket: JeffCo Debt Is Costly

06/18/13

The $1.9 billion debt-repayment deal that’s designed to pull Jefferson County, Ala., out of bankruptcy will eventually costs its citizens almost four times that amount. Read the Daily Bankruptcy Review article via The Wall Street Journal.

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U.K. Charges Trader in Libor Scandal; Fed Watch; Lawsky Targets Banking Consultants

06/18/13

Breaking News This Morning ...

Charges Filed: The U.K.'s Serious Fraud Office has charged former UBS and Citibank trader Tom Hayes with eight counts of fraud in connection with the London interbank offered rate-rigging scandal. The charges represent the first time U.K. authorities have pursued criminal penalties against someone allegedly involved in the manipulation of Libor, says the Journal. Per the FT, the move sets up "a potential conflict" between the U.S. and the U.K. since...

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The Big Lessons of Small Business

06/17/13

Given America's romance with small business, it certainly can't hurt to be seen out there supporting mom and pop.

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Will the Supremes Trim Back Bankruptcy Courts' Powers?

06/17/13

In addition to the fair housing case that Alan noted, the Supreme Court also granted cert in a bankruptcy case, Law v. Siegel.

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Judge Calls Out Heller Ehrman Filing ‘Flurry’

06/17/13

A bankruptcy judge says a recent “flurry” of court filings by Heller Ehrman LLP may “dramatically” affect the defunct law firm’s quest to chase down unfinished business profits.

Judge Dennis Montali of the U.S. Bankruptcy Court in San Francisco handed Heller a mild scolding Saturday as he called for a status conference to discuss the new and “challenging” issues the firm’s lawyers have introduced as its remaining unfinished business lawsuits head to trial.

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Corker-Warner Bill Retains Fatal Flaw of GSE Model

06/17/13

When the government backs any system, the beneficiaries have only limited interest in the risks they are taking. Senators Corker and Warner have fallen into this trap.

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The Fincen Whistleblowers

06/17/13

Many developed countries, free from the U.S. impulse to see every product as something to track, do not share its inclination to frown on financial privacy.

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