contract

The Politics of Budget-Cutting

helicopterIn Washington, the symbolic almost always trumps the substantive.  Thus, legislators complain, for good reason, about pork and earmarks, which ran about $35 billion at their maximum, and ignore entitlements, which entail some $100 trillion in unfunded liabilities.

Natural Law in the Nursery

“It’s my toy” = property law
“You promised” = contract law
“He hit me first” = criminal law
“Daddy said I could” = constitutional law

—Examples that the late Prof. Harold Berman of Harvard and Emory liked to invoke to show how children, from a very early age, grasp some of the basic principles of law. [John McGinnis, Liberty and Law]

Mortgage ‘Safe Harbor’ Anything But Safe

After the Senate’s rejection last week of allowing bankruptcy judges to re-write mortgage contracts, the so called “cramdown” provisions, it was starting to look as if the Senate cared about respecting private contracts. Sadly, such concern has been short-lived.

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