Alas, we must slog through another month to find out how it ends. The NML v. Argentina argument in the Second Circuit was postponed at the eleventh hour. In other news, one of the panel members recused himself , also at the eleventh hour. ... Read full article
My Georgetown colleague Rebecca Tushnet has a great post about a recent Missouri Supreme Court ruling, Brewer v. Missouri Title Loans, holding that an arbitration agreement in an auto title loan was unconscionable. The case is important because it says ... Read full article
Luigi Zingales had an op-ed in the NY Times a few days back proposing equity financing of higher education combined with IRS collection of educational debt. Sound familiar? It should to Credit Slips readers. I suggested the very same thing right here ... Read full article
A quick note about yesterday's editorial from Sherk and Zywicki . I'm loath to wade in yet again on this issue , as I doubt there would be any interest in these old bankruptcy cases if there were not an election looming. But the Sherk and ... Read full article
James Sherk and Todd Zywicki have an op-ed in the Wall Street Journal that kvetches about the unfairness of the Chrysler and GM bankruptcies. As one might expect, their complaint centers upon the contention that the senior lienholders in Chrysler get 29 ... Read full article
The American College of Bankruptcy (ACB) in cooperation with the Biddle Law Library at the University of Pennsylvania has made available a great and often overlooked resource for scholars who prefer to study "law on the ground" instead of just ... Read full article
Blackstone on Chase, via Bloomberg : “Occasional losses are inevitable,” said Blackstone Group LP’s Stephen A. Schwarzman, 65, CEO of the largest private- equity firm. “Publicly excoriating JPMorgan serves no purpose except to reduce people’s confidence ... Read full article
Bloomberg has an editorial arguing that making banks boring won't prevent a crisis; only increasing bank capital will do so. ... Read full article
The NY Times has an editorial this morning on the UST's proposed fee guidlines. ... Read full article
Tomorrow two Slips members -- Adam and I -- journey to the House of Representatives. Ok, for Adam this is a journey to the crosswalk, but nonetheless ... ... Read full article
Like the rest of us, the U.S. Congress cannot wait until the Second Circuit argument on pari passu , now scheduled for June 20th. Unlike the rest of us, the U.S. Congress can do something about it -- and it is. ... Read full article
I recently published a law review article entitled Grand Theft Auto Loans with Ozy Adams. It discusses title lending based upon data collected by the State of New Mexico. This article cover a tremendous amount of ground, but as these things tend to go, ... Read full article
A major argument against substantive regulation of industries (including consumer finance) is that the market self-regulates. Bad actors get bad reputations and lose business. Therefore, there's no need for government to intervene. ... Read full article
There's a fearful symmetry in the consumer finance world. It's a symmetry of bullies between overreaching financial institutions and plaintiff strike suits, as in both, litigation costs present a ceiling, under which there's a license to ... Read full article
Fascinating story in the Guardian about Irish debtors temporarily moving to the UK in order to gain access to more favorable bankruptcy law. I guess the Brit's have a more lenient version of 522(b)(3) or a looser good faith filing doctrine/plan ... Read full article
I've posted my thoughts on RadLAX over at Dealbook (along with another column on Dewey if you'd like to check that out too). In short, I noticed Justice Scalia's fascination with cannons too. ... Read full article
The Supreme Court has affirmed the 7th Circuit in RadLAX . I'm sure Adam, I, and others will have more comments to follow. The 8-0 decision certainly makes me feel a bit more comfortable about those old posts arguing that the 3d Cir. was ... Read full article
As Stephen noted , the Supreme Court has decided the RadLAX case . Although I suspect I won't be the only Credit Slips blogger to comment on the case, I had a few thoughts on the interpretive methods instead of the result. In a short opinion, the ... Read full article
Credit Slips alumni John Pottow sent me an op-ed from Freep.com. Being an idiot, it took me a while to figure out that this was the Detroit Free Press . John takes on the huge trading loss at J.P. Morgan and the continued need to regulate financial ... Read full article
