Tag Archives: Bankruptcy Law

Cramdown

Posted on May 2, 2009 at 4:48 pm by Bob Cesca

I keep thinking about Senator Tester’s hugely disappointing remarks against the bankruptcy bill and cramdown. He basically said to millions of homeowners: Tough shit. Later! What he actually said was “a deal’s a deal.” But what I’m still trying to … Continue reading →

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Ghouls

Posted on May 1, 2009 at 8:12 pm by Bob Cesca

The ghoulish senators who sided with the filibuster of the bankruptcy legislation offer up their ridiculous excuses. There should be a law passed forcing these senators to personally help families pack up their shit and move. Maybe once they look … Continue reading →

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Bankers Win

Posted on May 1, 2009 at 7:51 am by Bob Cesca

Legislation that would have allowed bankruptcy judges to renegotiate mortgages for homeowners was successfully filibustered yesterday. So not only will mortgage bankers and neighborhoods (and the broader economy) have to deal with a new glut of foreclosed homes, but families … Continue reading →

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I Curse That Goddamn Bankruptcy Law

Posted on January 14, 2009 at 12:34 pm by Bob Cesca

Another piece of the awesome Bush Legacy: There’s no shortage of blame for the mortgage crisis that drove the economy into the ditch. But here’s a fresh culprit: the 2005 bankruptcy reform act, which was strongly pushed by the credit … Continue reading →

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'The Pursuit of Peace'

Posted on November 22, 2008 at 1:30 pm by Bob Cesca

I speak of peace, therefore, as the necessary, rational end of rational men. I realize the pursuit of peace is not as dramatic as the pursuit of war, and frequently the words of the pursuers fall on deaf ears. But … Continue reading →

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Chapter 11

Posted on November 15, 2008 at 9:27 am by Bob Cesca

There’s a push to simply allow the automakers to file for Chapter 11 bankruptcy protection. On the surface, that seems to make sense, but the problem here is that we still lose those jobs, and I’m not convinced that losing … Continue reading →

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Bailing Out the Canyonero

Posted on November 9, 2008 at 5:32 pm by Bob Cesca

I don’t like the smell of the auto-maker bailout. These are companies that deliberately ignored fuel efficiency while continuing to produce ridiculously gigantic penis-compensators. General Motors in particular is facing bankruptcy, yet they killed the EV1 electric car a decade … Continue reading →

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Mind Screw Poll

Posted on November 1, 2008 at 5:33 pm by Bob Cesca

I’ve been thinking about this today and decided to put it into poll form. Which of the following scenarios would you have preferred: ( surveys) Yeah. It’s a mind screw isn’t it? I’ll add my analysis later. I’d like to … Continue reading →

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Chris Dodd For Treasury Secretary…

Posted on September 22, 2008 at 3:13 pm by Bob Cesca

…Is what I’d say if he wasn’t such an important member of the Senate right now. His plan for the bailout: [Dodd's legislation] requires Treasury to take an equity stake equal to the purchase price of the assets being bought. … Continue reading →

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The Audacity of Greed

Posted on September 21, 2008 at 3:38 pm by Bob Cesca

Lobbyists for the banking industry have the cajones to be making demands of the government: A deal killer for the group: a proposal that would grant bankruptcy judges new powers to lower the principal, interest rate or both on a … Continue reading →

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