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Lubben Is Around to Stay

posted by Bob Lawless

On behalf of all the regular Credit Slips bloggers, it is a pleasure to announce that Professor Stephen Lubben is joining us as a regular blogger. In associating himself with us, we are pretty sure that Lubben has thereby flunked the Groucho Marx Test. One of the other regulars wanted to convince Lubben there was some sort of equity buy-in on a small blog that features no advertising. It is best that person remain anonymous given our many posts about various forms of financial scams. Stephen, you and I instead will need to talk about the $20 blog posting fee that needs to be sent to me after each post.

As regular readers know, Lubben has been guest blogging for the past several weeks and has been focusing on the Chrysler and GM bankruptcies. Lubben's focus on corporate bankruptcy substantially adds to our existing expertise in that area. If you're not familiar with Lubben's academic work, take a gander at his SSRN page. Among his many interesting articles are a number of pieces on credit default swaps, a topic on which Lubben was writing before they got into the news.

Welcome aboard, Stephen.


Great... Just what I needed... MORE reading... And I can't wait to see what'll happen when the kickbacks for COMMENTS start flying around here... Prof. Lawless, are you sure you want this guy blogging along with you here? Seems to me things went a lil' shady as soon as you announced that he was stickin' around... Do I have to start going by "Mikie da Fish" or something now? What's this offer that was just made to me? Why do I suddenly want veal piccata for dinner?

In all seriousness, I NEED someone that can talk CDO/CDS with regard to RMBS issues to me like I'm, well, a consumer. Hopefully, Prof. Lubben's works on SSRN will shed some light for me as many Mortgage Servicing Fraud victims have come to believe that part of the reason that the issue even exists is because note holders and the servicers they own are/were playing both sides of the fence. It is suspected that note holders make the CDO/S purchase and then have the servicer deliberately tank the tranche that they bet on. Maybe smarter people than I can take an objective look at that angle at some point...

Now if we could only get someone asking servicer-related questions about TARP instead of just blindly throwing $15 Billion (and counting) at them and hoping that they'll fix the problem....

Careful around here, Prof. Lubben. These guys and gals can be a rough crowd at times. Don't let'em push you around the playground at all.. ;)

Great! His posts on Chrysler have been worth all other secondary sources available on the Web put together. And I bet we'll have plenty more interesting corporate bankruptcies coming along. Does one of the group understand bank insolvencies? We non-lawyers will need a lot of help with that...

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  • As a public service, the University of Illinois College of Law operates Bankr-L, an e-mail list on which bankruptcy professionals can exchange information. Bankr-L is administered by one of the Credit Slips bloggers, Professor Robert M. Lawless of the University of Illinois. Although Bankr-L is a free service, membership is limited only to persons with a professional connection to the bankruptcy field (e.g., lawyer, accountant, academic, judge). To request a subscription on Bankr-L, click here to visit the page for the list and then click on the link for "Subscribe." After completing the information there, please also send an e-mail to Professor Lawless (rlawless@illinois.edu) with a short description of your professional connection to bankruptcy. A link to a URL with a professional bio or other identifying information would be great.