Perhaps no one deserved a family vacation last week more than TaxMasters Inc. founder Patrick Cox, whose signature ginger beard has no doubt sprouted gray hairs since his disgraced nationwide tax-relief firm collapsed into bankruptcy in March.
As a Roselle bankruptcy attorney, I am often asked about the automatic stay. The automatic stay in a bankruptcy case is what gives the bankruptcy law an opportunity for the debtor to be protected from all creditors pursuing them by suing the debtor for debts that the person has occurred and owed to the creditor. [...]
Patriot Coal Corp. filed for Chapter 11 bankruptcy on Monday, becoming the largest casualty of the worst U.S. market for the power-plant fuel in decades. Read the Daily Bankruptcy Review article here.
"Isn't it true that there has never been a major crisis that resulted from excessive exposures to what was considered risky, and that these have always resulted from excessive exposures to what was perceived as not risky?"
If a senior mortgage executive tells you "there's nothing to worry about, we've got exceptional controls and a great track record in measuring and managing mortgage servicing rights," it is probably worth getting a second opinion.
Labeling a quarter of the U.S. population as un- or underbanked may be derisive, but naming rights still go to those who control the financial services market - banks.
