News Topic: CreditSlips

Bond pricing has always been a puzzle to me, so I leave it to Mitu . But one thing has bugged me for more than a year . Ever since Venezuela has joined the ranks of the walking dead, market participants have differentiated among its bond contracts in a ... Read full article

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In theory it is possible, I guess.  The Trump Administration comes in, promising to clean or drain or pump the swamp in Washington, and CEOs of public companies become scared and decide to reform themselves.  If so, one would expect to see fewer ... Read full article

Sometimes, a graph on Bloomberg says it all. Wow, just wow.  There is no easy or ready mechanism to do this (of course).  But the statement just took a giant chunk out of a large set of portfolios. HT: Darrell Miller  ... Read full article

From Joseph Blocher & Mitu Gulati ... Read full article

#BankBlack emerged on Twitter earlier this summer. The hashtag began as an encouragement to those protesting police brutality to move their money to black-owned banks, and is credited with growing the assets of black-owned banks by $6 million over the ... Read full article

From Joseph Blocher & Mitu Gulati We would not exactly call ourselves avid readers of the US Navy blogs. But there is an interesting post on the U.S. Naval Institute Blog today on Puerto Rico and debt by Commander George Capen (retired). The context ... Read full article

My thanks to the Slipsters, and particularly to Bob, Mark and Anna, for making me feel so welcome to your space already. I've long been a fan of the generous and supportive environment you have created and nurtured over the years. Serious and yet ... Read full article

We all know about the so-called revolving door where a few years of selfless government service translates into a high paying job in the private sector.  The question my co authors, Steve Choi and Adam Pritchard, and I set out to ask was whether these ... Read full article

Regular readers of  Credit Slips  will know that Mark Weidemaier will often co-post with Professor Mitu Gulati of Duke University . These posts, often on sovereign debt issues, are among our most widely read and commented upon. We are very pleased to ... Read full article

It's been a busy day, but before I sign off for the evening, I would be remiss not to flag Paul Kiel's outstanding piece that came out this morning,  How the Bankruptcy System is Failing Black Americans .  ProPublica and  The Atlantic  ... Read full article

This morning I saw a docket for a bankruptcy case captioned  In re Kabbalah Taxi, Inc.    Look for the cab with the little red thread around its mirror. If you meditate properly on the Tetragrammaton you will be teleported to your destination, although ... Read full article

Toys "R" Us filed for bankruptcy with impeccable timing--the very morning I was teaching my Financial Restructuring class about the commencement of the bankruptcy process. I decided to take my class through the TRU petition on PACER. Some 19 TRU ... Read full article

I'm musing out loud here, but does the Supreme Court's holding in  Spokeo v. Robins —that a suit claiming statutory damages without alleging actual damages lacks Article III standing—impact WARN Act claims in bankruptcy? The WARN Act is a labor ... Read full article

The media attention on the Equifax breach has been primarily on consumer harm.  There's real consumer harm, but it's generally not direct pecuniary harm.  Instead, the direct pecuniary harm from the breach will be borne by banks and merchants, ... Read full article

This post diagnoses what went wrong with Equifax and proposes a solution:  a public utility regulation regime for consumer reporting agencies in which the CRAs would be restricted in their ability to pay dividends and executive compensation unless they ... Read full article

A historic vote was announced overnight that signals a new era for large pension reform. As is often the case, "reform" here means that ordinary, hard-working folks will suffer a significant amount of pain as big companies are relieved of some ... Read full article

We are about to hit an anniversary of sorts, a year since Venezuela was surely going to default on its debt ... except that it still hasn't, so the U.S. government has decided to nudge it along. ... Read full article