Bankruptcy Blogs

Receiving Wide Coverage ... A Bear of a Case: In the first action by his task force on mortgage securitization fraud, New York Attorney General Eric Schneiderman sued JPMorgan over bonds that Bear Stearns sold before JPM acquired it. Naturally, the complaint quotes from embarrassing, obscenity-laced emails, and one Bear Stearns trader allegedly coined a phrase that would make Henry Blodget blush (the Huffington Post saw fit to put this innovation of profanity in its headline)....

The notion of decreasing the degree to which a banker can use his or her judgment to add to the ALLL not only throws the baby out with the bathwater, but it also fails to protect the investor, the very person that the accounting rules claim to be protecting.

Talk about ripped from the headlines.

This year’s very public implosion of New York law firm Dewey & LeBoeuf LLP  was the biggest law firm failure in U.S. history—and it seems the creators of CBS drama “The Good Wife” were taking notes.

A practical, well-executed plan, even one with disappointingly modest goals, will deliver more than an overly ambitious plan, easily subverted, that in hindsight probably had no hope of ever succeeding.

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