News Topic: CreditSlips

Order denying cert here . More on this later, of course. The next payment on the exchange bonds is due June 30, I believe. ... Read full article

Todd Zywicki, Geoff Manne and Julian Morris have an article on the effect of the Durbin Amendment .  Sigh.  No surprises here.  Zywicki et al. are making claims beyond what their data can support and in fact directly contradicted by their own data, which ... Read full article

So Caesar's Entertainment is engaged in some Dynegy-like revamping of its corporate structure. Its motives are colorfully described here , but I have to stick to more G-rated language over at Dealb%k . ... Read full article

I note two of the more brazen attempts to undermine Dodd-Frank's FSOC, over at Dealb%k . ... Read full article

Thanks to Stephen for posting the Bellingham/Arkison/Executive Benefits opinion, which I will for simplicity think of as Stern II , as it's the second installment of what will necessarily be a trilogy of Supreme Court cases on the question.  True, ... Read full article

Did Law v. Siegel Sound the Death Knell for the Equity Powers of the Bankruptcy Court?   Mark Berman thinks so . ... Read full article

The good news is that it's a nice (relatively) short opinion with no dissents or concurrences that require a map to understand.  The bad news is that it dodges all the interesting issues. The Supreme Court's opinion in  Executive Benefits ... Read full article

Larry Summers has a v ery interesting book review of Atif Mian and Amir Sufi's book House of Debt  in the Financial Times. What's particularly interesting about the book review is not so much what Summers has to say about Mian and Sufi, as his ... Read full article

Yesterday's Is. It. Legal. provoked some comments and questions. Some quick replies above the line, so to speak. Q: Is it clear that this is going to be a cramdown plan? ... Read full article

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The American Bankruptcy Institute (ABI) Commission on Chapter 11 Reform has been considering how to improve the chapter 11 process. Among the thorniest issues the ABI Commission has faced is how to fairly balance the interests of secured creditors with ... Read full article

There has been some recent excitement over a leaked memo penned by Argentina's lawyers at Cleary Gottlieb. ... Read full article

How exactly do people make ends meet? While there are a few formal studies of "payment hierachies" courtesy of the big data organizations, there is little ethnographic work. A new contribution in this regard is "Robbing Peter to Pay ... Read full article

I just read Jennifer Taub's outstanding book  Other People's Houses , which is a history of mortgage deregulation and the financial crisis.  The book makes a nice compliment to Kathleen Engel and Patricia McCoy's fantastic  The Subprime ... Read full article

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Yves Smith has a fascinating post about how private equity firms (which, as she notes in the comments is largely a polite rebranding of "leveraged buyout firms") charge fees for services provided by captive affiliates to their portfolio ... Read full article

I have a multi-book  review essay  on the financial crisis that is now out in the Harvard Law Review. Sadly, Timothy Geithner went to print to late for me to include his book. James Kwak has written a nice response to my essay  here .    ... Read full article