Banking Law

Due to the Darwinian dictates of my so-called "profession," clients actually expect their legal counsel to work in return for the payment of fees billed. What is WRONG with this picture???

As a result of this sad state of affairs, posting will be spotty for the rest of this week. However, for reading enjoyment, please visit Housing Wire, if you're not already a steady reader. Paul Jackson's recent commentary on cram-downs in Chapter 13 bankruptcy proceedings and a call for a federal guarantee of subprime loans whose rates would be frozen at easer rates ("Do not pass 'moral hazard.' Do not stop at 'taxpayer-funded bail-out.' Nothing to see here, people, move along."), are well worth a read. In addition, he's got to be one of the hardest working publishers in the mortgage banking field. Housing Wire always seems to be on top of the news and usually has an interesting take on the issues.

No, Paul didn't pay me for the kudos.

Finally, please enjoy the following video that a reader sent me of a subprime borrower filling out an application for a driver's license, using the same skill set he employed to fill out a loan application and, later, an application to take the bar examination, which he passed.