municipal bankruptcy

Detroit Institute of Art Collection--Available to Creditors?

08/20/13

I have a piece on Salon about whether creditors should be able to force the liquidation of the Detroit Institute of Arts collection.  The DIA collection is apparently municipal property, although the DIA is an independent non-profit entity that basically operates the collection.

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Legal Solutions to Non-Legal Problems

08/13/13

Again, this is me posting on Adam Levitin's behalf because he is away from Internet access as he owns an Apple computer (often a redundant statement). Adam writes:

R.
Glenn Hubbard and Tim Kane have an op-Ed in the NYTimes proposing a federal
balanced budget amendment as the solution to federal deficits. 

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The Peculiar Vulnerability of Municipal Pensions in Chapter 9

08/13/13

This may be my byline, but I am posting for Adam Levitin. He is not in his office, and his Apple device is not being cooperative with our blog hosting service. He asked me to post for him, apparently unaware that meant that I would also get to take cheap shots like asking whether he would like to replace his Apple faux-device with a real computer. 

Anyway, Adam writes:

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The Stockton Saga Continues: Untouchable Pensions on the Chopping Block?

05/21/13

By Barbara Altimus Shreero

Judge Christopher M. Klein’s decision to accept the City of Stockton’s petition for bankruptcy on April 1, 2013 set the stage for a battle over whether public workers’ pensions can be reduced through municipal reorganization.

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Stockton, California Chapter 9 Filing - Another Outlier, Or Harbinger?

06/29/12

Meredith Whitney, one of the first financial analysts to foresee the collapse of the housing market, famously predicted in December 2010 that a wave of municipal bond defaults was on the way. The wave, however, has yet to materialize, and the bankruptcy filing of Stockton, California will likely not change this.   

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