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A Lot of Wisdom over at the NYT

posted by Bob Lawless

Tara Siegel Bernard has a post up over at the New York Times Bucks blog about economic indicators, outstanding credit, and bankruptcy filings. She quoted some guy named "Lawless" who really sounds like he knows what he is talking about--probably a good-looking guy too. Punch line -- less credit means fewer bankruptcies all other things being equal (which they rarely are).

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Nothing is forever, I remember going to an American Bankruptcy Institute conference in La Quinta (Palm Springs) in December 1999. Outside, it was beautiful California Dreamin' sunny skies and warm weather. Inside, the climate was bleak. Under President Clinton the economy was booming and bankruptcy attorneys were hurting.

I believe no matter what is the cause of the high number of personal bankruptcy, the point is that we need to curb personal bankruptcy as much as possible. With so many people filing for bankruptcy, it just goes to show that our economy is still in shambles. Until we can stabilized the number of bankruptcy filing, and see sustainable job growth, we can expect this economy to be in this humdrum state.

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Bankr-L

  • 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.

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