News Topic: CreditSlips

For the umpteenth time, President Obama has announced that his solution to the foreclosure crisis is to encourage "responsible" homeowners to refinance at lower interest rates.  Adopting the Tea Party rhetoric and blaming home buyers who got ... Read full article

Someone who wanted to be very mean to the Germans just leaked this document , where they manage to come off as both desperate and inept. The proposal purports to address Greek failure to meet program targets by installing an EU overlord, whose job it ... Read full article

Unless Greece and its creditors reach a deal in the next few days, Greece has no money to pay €15 Billion or so due to its bondholders in March. ... Read full article

In many respects, bankruptcy is a one-size-fits-all legal process. Yes, there are ample differences in the law (and a world of difference in practice) between the bankruptcy of a large corporation and a typical consumer. But the Bankruptcy Code itself ... Read full article

Bloomberg out with an interesting story about how private equity firms are buying single family homes at foreclosure to rent out. It surprises me that there is real interest in what remains a relatively small scale, highly heterogeneous asset. ... Read full article

During the State of the Union address, the President crowed about the success of the GM/Chrysler bailouts, noting that these companies were thriving again. An NPR program this evening was holding up GM/Chrysler as a beacon of hope for Kodak, as if ... Read full article

A case out of the Third Circuit demonstrates the frustration that many of us have with the current state of consumer arbitration law. The consumer had purchased a Dell computer that he alleged had design flaws leading to repeated failure of his ... Read full article

Steve's title was subtle, so in case anyone missed it, here are the materials on Public Citizen's website . The petition calls on the Federal Reserve and the Financial Stability Oversight Commission to use their authority under Dodd-Frank to ... Read full article

Anna Gelpern's Gunboat Diplomacy post pretty much sums out the leaked German term sheet on Greece. I would only note one other thing--the highly idiosyncratic use of "absolute priority." The Germans seem to have taken the language of ... Read full article

I wade into the chapter 11 professional fee debate again , this time in the context of the UST's proposed guidlines for attorneys fees in big cases. ... Read full article

The article discussed in the N.Y. Times story today is heavily empirical. It is also deliberately light on the prescriptive. ... Read full article

As Adam noted in his kind post, the New York Times today featured our study, "Race, Attorney Influence, and Bankruptcy Chapter Choice." My co-authors are Credit Slips blogger Jean Braucher, a law professor at the University of Arizona, and Dov ... Read full article

A new study by Credit Slips own Jean Braucher and Bob Lawless (with Dov Cohen) on race and bankruptcy filings received very prominent and well-deserved page A1 coverage in the New York Times.  It's a fabulous study, and it's wonderful to see it ... Read full article

UNC's Center for Community Capital  has posted a new analysis of 19.5 million mortgage loans originated between 2000 and 2008  finding that mandatory down payments of 10% would lock out nearly 40% of all creditworthy borrowers while a 20% down ... Read full article

One of my crack research assistants, Scott Cromar, put together electronic versions of the U.S. Bankruptcy Code and Federal Rules of Bankruptcy Procedure (FRBP) that can be read using Amazon Kindle or an ePub reader. Because these books were assembled ... Read full article

Richard Cordray’s first CFPB hearing will be held today and will focus on the practices of payday lenders. Seventeen states and the District of Columbia already outlaw payday loans, but in all of the others, lenders can and do charge 400% interest or ... Read full article

Given what a small part of the web we are, it seemed a little melodramatic for Credit Slips to go dark over the proposed Stop Online Piracy Act (SOPA) and Protect IP Act (PIPA). It did seem appropriate at least to add my own voice to the opposition. ... Read full article

Credit Slips Own Anna Gelpern has a great new article in the Yale Law Journal that very much deserves a plug. It's called " Bankruptcy, Backwards:  The Problem of Quasi-Sovereign Debt ." The article deals with the problems of financial ... Read full article