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Caught up on this line again
Bank of America, OLA, and the problems of oversized financial institutions, up now on Dealbook.
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Private Equity Works on Its Image Problem
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...
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Quote of the Day
In re Bank of America, N.A, 11-24503 MER, 2011 WL 2493056 (Bankr. D. Colo. June 21, 2011): Since there is no allegation Bank of America is a railroad … the Court accepts Bank of America's...
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Recommended Reading
For those following financial reform: Paul Volcker dismantles the only respectable (i.e., not obviously self interested) argument against the Volcker rule.
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Revisiting Lehman
For reasons that I don't quite understand, Krugman has gone all upside Taylor based on a two year old post from Economics of Contempt, and DeLong has joined in the fun. Its kind of an undead debate....
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Conferring
Today I'm off to the Wharton Restructuring and Turnaround Conference, which looks to be a great, high level discussion of all things chapter 11ish. But it is surely a sign of the times that the...
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Watch them do, The standing still
My latest column for Dealbook looks at the competing narratives regarding Dodd-Frank's OLA in the banking and bankruptcy communities.
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Lehman’s Plan Goes Effective
Leaving one third of the historically significant insolvency case complete-ish (I count London and SIPA as the other bits). Download The Notice
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I’m Confused
What, exactly, is so gosh-darn newsworthy and exciting about the fact that distressed debt investors exist, and want to buy claims in MF Global?
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The Real Question re Goldman
Why doesn't Goldman have its employees sign non-disclosure agreements?
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Subsidizing Shareholders (and the Sub Debt Too)
So there is a bit a kerfuffle going on between Luigi Zingales and Brad DeLong. By and large DeLong has the better of the argument, but there is one small piece where he could benefit from the services...
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RadLAX
Former guest slipster Ronald Mann has a nice post up at SCOTUSblog about RadLAX Gateway Hotel, LLC v. Amalgamated Bank, the Supreme Court case about credit bidding set for argument on the 23rd. While...
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What say?
Gretchen Morgenson, in Mortgage Unit Troubles Ally Financial explains that: Although repurchase claimants would be considered general unsecured creditors in a ResCap bankruptcy, the put-back demands...
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Thou All-destroying But Unconquering Whale
A few quick thoughts and suggested readings on Chase's ever expanding losses from the Whale Trade. First, if you have not been reading Lisa Pollack's Alphaville posts on this topic you really must....
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As Expected
The Supreme Court has affirmed the 7th Circuit in RadLAX. I'm sure Adam, I, and others will have more comments to follow. The 8-0 decision certainly makes me feel a bit more comfortable about those...
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HMS RadLAX
I've posted my thoughts on RadLAX over at Dealbook (along with another column on Dewey if you'd like to check that out too). In short, I noticed Justice Scalia's fascination with cannons too.
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L&L In D.C.
Tomorrow two Slips members — Adam and I — journey to the House of Representatives. Ok, for Adam this is a journey to the crosswalk, but nonetheless … We are both testifying at hearing in front of the...
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Chapter 11 Fees Go Mainstream
The NY Times has an editorial this morning on the UST's proposed fee guidlines.
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Right
Blackstone on Chase, via Bloomberg: “Occasional losses are inevitable,” said Blackstone Group LP’s Stephen A. Schwarzman, 65, CEO of the largest private- equity firm. “Publicly excoriating JPMorgan...
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GM and Chrysler, Yet Again
A quick note about yesterday's editorial from Sherk and Zywicki. I'm loath to wade in yet again on this issue, as I doubt there would be any interest in these old bankruptcy cases if there were not an...
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