“Cram-Down” Power For Bankruptcy Judges Likely To Die In Senate
A Wall Street Journal story by Elizabeth Williamson said that President Barack Obama’s plan to give bankruptcy judges the power to modify mortgages is headed for a defeat in the U.S. Senate. The measure, once an amendment offered by Senator Dick Durbin of...With Big Bankruptcies On Horizon, Huge One Still Making News
What is left of the defunct accounty firm Arthur Andersen L.L.P. has agreed to pay Enron Corp. creditors $16 million to settle a claim that the firm was negligent in its advising and auditing of the energy firm, whose bankruptcy was once described as the largest...“Tea Party” Protests Take Aim At Obama’s Stimulus
Conservatives across the country will use Wednesday, April 15, to protest the unprecedented spending increases that have been used by both George W. Bush and President Barack Obama . Activists are using the protest to highligh the governments growing debt levels that...Senate’s Delay In Bankruptcy Reform Could Bring More Changes
A report on USA Today’s Web site written by Christine Dugas shows that the U.S. Senate’s delay in changing bankruptcy law to allow judges to change the terms and interest rates on mortgages may bring even more changes to the law regarding credit cards....Congress Expected To Reach Compromise On “Cramdown” Legislation
Democrats in the House of Representatives, under pressure from a group of moderates in their ranks and the banking lobby, agreed to restrictions on legislation that would give bankruptcy judges the power to change the terms of a mortgage by the reducing interest rate...
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