Outside bankruptcy creditors are on their own but the BC provides for collective, debtor-financed unsecured creditor representation through committees. Ditto in limited cases for shareholders. The justification for such subsidies is the collective, legally binding effects of bankruptcy reorganization. Service recipients (and taxpayers) are practically as much stakeholders as creditors; there is no principled reason to subsidize the collective action of one and not the others. It's equally the case that creditors "made their bed" with city government when they extended credit as did voters when they elected the city council but the former get Code-authorized representation while voters don't. The net effect is to shift risk away from market participants who generally are able to evaluate/hedge the risks and to residents who aren't. I think this is unfair.

I wonder if InfiLaw will maintain three locations in such close proximity.

Sadly, had all levels of state government implemented the second sentence of sec. 24 of Art. IX of the Michigan Constitution, the first wouldn't be in play.

It was a long search but I'm sure Judge Leonard will lead the Campbell community well.

Do as I say, not as I'm doing. I had begun reading and putting some initial thoughts in writing since the semester break but switched to a new topic a week ago. I hope to "catch the wave" in the chapter 9 bankruptcy of Stockton, CA. I have traditionally accumulated material over the course of the spring semester and worked to turn it into a good draft by the end of the summer. I suggest that folks not change course midstream but I feel I shouldn't pass up this opportunity. How long a trajectory do other folks have between picking a topic and getting an article out the door?

It certainly made my day. I think I'll use it next time i teach secured transactions.

I interviewed Lauren on Thursday about her work. Podcast should be available next week. Very insightful.

Is there data on the average rates of interest on title loans?

Thanks for the post and the link to Fed's site. Perhaps it's a question of the target of the marketing for the card. I notice that my alma mater, the University of Wisconsin, does not have an affinity card but it's alumni association does (and brought in nearly $1 million in 2010). I have less concern about these sorts of tie-ins when the group to whom they're pitched are grads and not current students. Of course, the bank and alumni association can start marketing long before graduation which raises the moral/public welfare questions you raise.

Good to see you're in the Lounge, Jim. Looking forward to your input.

A concept worth pursuing. I've previously posted at my blog about my experience teaching in an Indian National Law University. NLU's offer a five-year joint degree program with an LL.B. and another major from a limited number of options. Surely a six-year B.A./J.D. should work.