bankruptcy

The Pension Tsunami

That’s the name of the website of Jack Dean, who is interviewed in this new Reason.tv video about how excessive pension promises to bureaucrats are creating a fiscal nightmare for state and local governments.

How the Debt Crisis Will Stop

The economist Herb Stein famously said, “If something cannot go on forever, it will stop.” That’s a good riposte when people wring their hands over something unsustainable. Of course, that fact doesn’t tell you how unsustainable situations will stop, and some ways are less pleasant than others.

‘The Dumbest Terrorist In the World’?

Businessweek has a story quoting a former federal prosecutor in Brooklyn, Michael Wildes, speculating that Faisal Shahzad, the would-be Times Square bomber, made so many mistakes (leaving his house keys in the car, not knowing about the vehicle identification number, making calls from his cellphone, getting filmed, buying the car himself) that he may be the “dumbest terror

Lehman’s Failure Taught Us Nothing

Several commentators have reacted to Senator McConnell’s floor statement regarding the Dodd bill as a defense of “doing nothing”.  And accordingly argue that such a position would be, in the words of Simon Johnson, both dangerous and irresponsible.  This familiar canard is based upon the oft repeated assertion that the failure of Lehman proved that we cannot simply let large financial companies enter bankruptcy.

Supreme Court Erases Legal Precedent for Auto Bailout

On Monday the Supreme Court released its last orders for the calendar year. Of particular note – apart from the non-release of the long-awaited decision in the Citizens United campaign finance case – the Court dismissed the cert petition in Indiana State Police Pension Trust v. Chrysler LLC as moot and vacated the underlying Second Circuit opinion. While this is not the ideal outcome – particularly for the Indiana creditors – it is in its own way an important decision preserving the integrity of bankruptcy law.

Subscribe to RSS - bankruptcy