Bankruptcy Blogs

Bring Back That Old-Time Banking Religion

11/10/11

Banks should adhere to high moral standards by discouraging people from going needlessly into debt. The concept of "fly now, pay later" does not promote consumers' financial responsibility.

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The Daily Docket: Jefferson County Enters Bankruptcy

11/10/11

Alabama’s Jefferson County filed for Chapter 9 protection Wednesday evening with more than $3 billion in debt, the largest bankruptcy of its kind, The Wall Street Journal reports.

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New Balick Chair at Widener Law School

11/10/11

Many Credit Slips readers will remember Judge Helen S. Balick who presided over the U.S. Bankruptcy Court for the District of Delaware. The Widener School of Law has established a chair in her honor and invites persons to apply to serve as the first Helen S. Balick Chair in Business Bankruptcy Law. More details about the position are available here.

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The Multistate Foreclosure Settlement

11/09/11

The New York Times came out with a strong editorial urging state AGs and the Administration not to rush into the proposed multi-state settlement deal. I think it's worthwhile reviewing what we know about the deal and the arguments for and against it.

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The US's Missing Housing Policy

11/09/11

The United States has no housing policy. And there's none on the horizon either. That's a scary thing, given the centrality of housing to domestic economic woes.  

Once upon a time, the US had a housing policy. It was focused on increasing homeownership. It might have been a misguided policy or at least a policy taken too far, but it was a policy and everyone understood that. It meant that programs were designed to work toward that goal.

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Amending Bankruptcy Exemptions : Court Says Its Never Too Late To Change

11/09/11

Debtors may want to amend their exemption plan (on Schedule C) for several reasons during their bankruptcy case. For example, the debtors may find it advantageous to shift their exemption limits from one asset to another asset to make sure preferred assets are completely covered by exemptions. If the  valuation of one or more assets becomes an issue a debtor may want to remove an exemption from one asset to fully protected the increased value of another asset.

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Volcker Rule Is Stuck in a Bygone Era

11/09/11

The Volcker Rule attempts to confine banks and their holding companies in a regulatory strait-jacket that is inconsistent with the changing world of finance.

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Braxton’s Bankruptcy Was ‘Really Great’ For Her

11/09/11
Associated Press

Toni Braxton’s heart is definitely “unbroken” when it comes to her bankruptcy case, in which most of her

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