Historical Perspectives

Unhappy Birthday, BAPCPA


BAPCPA's been in effect for 10 years now. I still remember the day before it went into effect, seeing round the block lines at the Wilmington courthouse as consumers rushed to file. 

There's lots to say about BAPCPA, for both consumers and businesses, but it boils down to this: it's not a fine wine and hasn't improved with age. The vinegar only gets more sour. 


Glass-Steagal: It's the Politics, Stupid!


It was like eight nights of Chanukkah in one for me watching the Democratic debate last night. There was a Glass-Steagal lovefest going on. But here's the thing:  no one seems to get why Glass-Steagal was important or the connection between Glass-Steagal and the financial crisis.


More on AIG: Between Hysteria and Complacency


I agree with Adam about all that post-Starr hyperventilation. No, it does not mean that bailouts are over, that the Fed has been slapped down, or any of that lurid stuff.


Lessons For Consumer Protection From The World Of Inclusive Capitalism


Lately I have been teaching courses with names such as "Global and Economic Justice" and "History, Impacts and Regulation of Consumer Credit" instead of "Bankruptcy," "Secured Transactions" and "Chapter 11 Reorganizations." So I have been reading different books and listening to different speakers.


Insurance Capital Games and PMI Reinsurance Kickbacks


The New York Times carried an important story about the risky investment moves of life insurance companies.


A More Ancient Household Goods Rule


Courtesy of Jack Ayer, professor emeritus of law and polymathy, comes the following from the Wikipedia entry on Modigliani -- Amedeo, not Franco: