Thank You Jonathan Lipson!

On behalf of all the Credit Slips regulars, I wanted to thank Jonathan Lipson for joining us last week. Jonathan has written and thought a lot about the intersection of corporate governance principles and financial distress. We appreciated his posts on the recent and important Gheewalla decision of the Delaware Supreme Court about the zone of corporate insolvency and directors' duties (or lack thereof). During his blogging stint with us, Jonathan did not mention his recent online response to an article in the University of Pennsylvania Law Review that advocated paying CEOs of reorganizing corporations with corporate debt. Jonathan makes several persuasive points about why this proposal is not needed, and I commend Jonathan's response to those interested in this topic. It can be found here.

In the next several weeks, we will have some more guest bloggers. Oren Bar-Gill of NYU law school will be joining us to talk about behaviorial biases that affect the consumer credit markets. Javier Arias of the Universidad Rey Juan Carlos will be joining us to offer a Spanish/European perspective on consumer credit and bankruptcy. Also, Michael Barr of the University of Michigan Law School will guest blog to talk about his empirical work on financial services for low- and middle-income households.