March 26, 2009
Obama Townhall Meeting Online Today - Send in Your Questions
Prof. Katie Porter Posting on Credit Slips - This is Good
Laughing through the Pain
posted by Katie Porter
This economic meltdown isn't fun for anyone, not even bankruptcy law professors. But Americans are creative, resilient folks and in the midst of hardship, some people are finding ways to cheer themselves with humor. Here are three recent examples to lighten your day:
A former student of mine wanted to teach his elementary school-age son about the financial system and give him a taste of entreprenuership. They created Bankster Buddies toilet paper, which is printed with the faces of government officials who had a role in the meltdown. The bipartisan paper bears a memorable slogan: They dump on us; we wipe with them!
Next up is the Disposable Bullshit Bag. The bag comes printed with directions and carries a handy warning: "Do not attempt to dispose of your BS through any government agency since they produce more bullshit than they can dispose of themselves." I've located a picture here but don't know where to purchase them. They are the perfect gift for that hard-to-shop for family member though.
Max Gardner of Shelby NC sent me a new twist on a classic song. Take a load off Fannie illustrates the current meltdown with visual images, including some great headlines from 2008 like "Bernake says housing crisis is contained."
I'm sure Credit Slips readers will have other examples. I think I've already pushed the outer limits of taste with my first two examples, so keep it in bounds, but feel free to share. We all need a laugh to lighten our load these days.
Thanks to Creditslips.com
March 25, 2009
Dubai sues MGM Grand
A copy of the complaint can be accessed here. I've been saying that I want to write a book on a big public chapter 11 that has some sex appeal. A case that I can follow from day one and hopefully explain in plain english (which leaves out Lehman Bros.). The MGM may be it. The beginning basis for the Dubai suit is the comment by MGM's auditors in the latest report that there is substantial doubt that MGM can survive. Stay tuned.
March 24, 2009
Central District Consumer Bankruptcy Attorneys Program This Saturday
GENERAL MEMBERSHIP ASSSEMBLY
March 28, 2009 at 10:30 a.m.
Southwestern Law School
3050 Wilshire Blvd., Room 329
3rd Floor in the Westmoreland Building
Los Angeles, CA 90010
MCLE Program, Co-Sponsored by Southwestern Law School,
11:00 a.m. – 1:00 p.m.
Total MCLE Hours: 2 hours
“HOTTEST TOPICS IN CHAPTER 13”
Speakers: Nancy Clark, Esq., Cassandra Richey, Esq. and a Surprise Guest Speaker
April 18, 2009
MCLE: “Means Test” to be presented by James T. King, Esq. and Peter M. Lively, Esq.
March 23, 2009
1.6 Million Vehicles Repossessed in 2008
According to radio station - KCTV5:
In 2008, 1.6 million vehicles were repossessed, an increase of 12 percent from the previous year. Economists said the home foreclosure crisis is partly to blame because as people try to save their homes, their car payments tend to fall behind.
The article can be accessed here. 1.6 million seems like a staggering amount to me. How many vehicles even sold in 2008? Thanks to Bob Hiller for this note.
March 22, 2009
Oral History Interview with Vern Countryman - 1995
This is pretty fun to read if you like history at all. I found it on the Penn Archives site. The interview was conducted by Judge Randall Newsome. The transcript is here.
Circuit Court of Appeals Cases from Last Week
7th Circuit Court of Appeals, March 18, 2009
Leibowitz v. Great Am. Group, --- F.3d ----, 2009 WL ---------- (7th Cir. 2009)(contract to indemnify defendant was enforceable)
8th Circuit Court of Appeals, March 17, 2009
Fix v. First State Bank of Roscoe, --- F.3d ---, 2009 WL --------- (8th Cir. 2009)(No homestead exemption for property conveyed prepetition, other causes of action are property of the estate except claim for infliction of emotional distress - claims not prevented by prepetition relase)
9th Circuit Court of Appeals, March 16, 2009
Griffin v. Wardrobe, ---- F.3d ----, 2009 WL -------- (9th Cir. 2009)(state court improperly allowed Plaintiff to amend her complaint in violation of the automatic stay)
Thanks to Findlaw.com