Bankruptcy Blogs

Blame the game, not the player.

The Chapter 11 filing of the Los Angeles Dodgers is a desperate move by Frank McCourt to try to maintain his ownership of the team.  At least McCourt, whatever his shortcomings as a major league franchise owner, chose wisely in selecting bankruptcy lawyers.  Partners Bruce Bennett and

A majority of respondents to an American Bankruptcy Institute poll said creditors of failed investment bank Lehman Brother Holdings Inc. wouldn’t have fared better in a post-Dodd-Frank world.

The strenuously negotiated financial reform law put into place last year gave the government the authority to orderly liquidate financial firms–a power that theoretically would have prevented Lehman’s crash into bankruptcy that many blame for intensifying the recent financial crisis.

The atmosphere in D.C. is hyper-partisan, a presidential election is looming and the economy is barely limping along. We need someone who has credibility with both political parties, experience working in a crisis situation, and the ability to get things done. That person is Sheila Bair. Why? Let's count the ways.

A federal judge on Thursday sentenced former Taylor, Bean & Whitaker Mortgage Corp. Chairman Lee Farkas to 30 years in prison for running a multibillion-dollar fraud scheme that led to the collapse of the mortgage lender and a major bank. Read the Daily Bankruptcy Review story here.