Debt's Dominion

Debt's Dominion PDF Author: David A. Skeel Jr.
Publisher: Princeton University Press
ISBN: 1400828503
Category : Business & Economics
Languages : en
Pages : 296

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Book Description
Bankruptcy in America, in stark contrast to its status in most other countries, typically signifies not a debtor's last gasp but an opportunity to catch one's breath and recoup. Why has the nation's legal system evolved to allow both corporate and individual debtors greater control over their fate than imaginable elsewhere? Masterfully probing the political dynamics behind this question, David Skeel here provides the first complete account of the remarkable journey American bankruptcy law has taken from its beginnings in 1800, when Congress lifted the country's first bankruptcy code right out of English law, to the present day. Skeel shows that the confluence of three forces that emerged over many years--an organized creditor lobby, pro-debtor ideological currents, and an increasingly powerful bankruptcy bar--explains the distinctive contours of American bankruptcy law. Their interplay, he argues in clear, inviting prose, has seen efforts to legislate bankruptcy become a compelling battle royale between bankers and lawyers--one in which the bankers recently seem to have gained the upper hand. Skeel demonstrates, for example, that a fiercely divided bankruptcy commission and the 1994 Republican takeover of Congress have yielded the recent, ideologically charged battles over consumer bankruptcy. The uniqueness of American bankruptcy has often been noted, but it has never been explained. As different as twenty-first century America is from the horse-and-buggy era origins of our bankruptcy laws, Skeel shows that the same political factors continue to shape our unique response to financial distress.

Debt's Dominion

Debt's Dominion PDF Author: David A. Skeel Jr.
Publisher: Princeton University Press
ISBN: 1400828503
Category : Business & Economics
Languages : en
Pages : 296

Get Book Here

Book Description
Bankruptcy in America, in stark contrast to its status in most other countries, typically signifies not a debtor's last gasp but an opportunity to catch one's breath and recoup. Why has the nation's legal system evolved to allow both corporate and individual debtors greater control over their fate than imaginable elsewhere? Masterfully probing the political dynamics behind this question, David Skeel here provides the first complete account of the remarkable journey American bankruptcy law has taken from its beginnings in 1800, when Congress lifted the country's first bankruptcy code right out of English law, to the present day. Skeel shows that the confluence of three forces that emerged over many years--an organized creditor lobby, pro-debtor ideological currents, and an increasingly powerful bankruptcy bar--explains the distinctive contours of American bankruptcy law. Their interplay, he argues in clear, inviting prose, has seen efforts to legislate bankruptcy become a compelling battle royale between bankers and lawyers--one in which the bankers recently seem to have gained the upper hand. Skeel demonstrates, for example, that a fiercely divided bankruptcy commission and the 1994 Republican takeover of Congress have yielded the recent, ideologically charged battles over consumer bankruptcy. The uniqueness of American bankruptcy has often been noted, but it has never been explained. As different as twenty-first century America is from the horse-and-buggy era origins of our bankruptcy laws, Skeel shows that the same political factors continue to shape our unique response to financial distress.

Ruin: A Novel of Flyfishing in Bankruptcy

Ruin: A Novel of Flyfishing in Bankruptcy PDF Author: Leigh Seippel
Publisher: Simon and Schuster
ISBN: 1947951610
Category : Fiction
Languages : en
Pages : 322

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Book Description
Ruin is a thoroughly engrossing novel about a young couple’s struggle back from financial catastrophe that so many of us dread. Having fled their urban life, they begin to build a new life together in a rural setting, far from former friends and colleagues—only to have it fall apart all over again in ways that could never be predicted. Frank Campbell, a thirty-something former founding owner of a high-flying New York City-based hedge fund, has gone bankrupt, losing not only all his own money but the entire inherited fortune of his artist wife, Francy. The couple take refuge in an abandoned Hudson Valley farm shared with a resident herd of congenial goats. Frank is deeply shaken by the life-changing loss that has so thoroughly ruined their life together. Frank tries to build a new microbrewery business on a shoestring but is haunted by the memory of passages from literature he revered as an undergraduate at Yale before jumping into finance. For Francy, her altered circumstances, after a lifetime of privilege, have galvanized her work as an artist and she distances herself from her struggling husband. In the midst of it all, Frank takes up fly fishing on the nearby river, aspiring to join the local fishing club. Tragedy ensues during a fishing contest, further framing Frank as a “loser loner” in life. Only when he turns to fly fishing in earnest, traveling the world in search of the ever more perfect and elusive trout (and one memorable carp), does he find his way forward in “the yowling madness” of the world.

Bankrupt in America

Bankrupt in America PDF Author: Mary Eschelbach Hansen
Publisher: University of Chicago Press
ISBN: 022667973X
Category : Business & Economics
Languages : en
Pages : 237

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Book Description
In 2005, more than two million Americans—six out of every 1,000 people—filed for bankruptcy. Though personal bankruptcy rates have since stabilized, bankruptcy remains an important tool for the relief of financially distressed households. In Bankrupt in America, Mary and Brad Hansen offer a vital perspective on the history of bankruptcy in America, beginning with the first lasting federal bankruptcy law enacted in 1898. Interweaving careful legal history and rigorous economic analysis, Bankrupt in America is the first work to trace how bankruptcy was transformed from an intermittently used constitutional provision, to an indispensable tool for business, to a central element of the social safety net for ordinary Americans. To do this, the authors track federal bankruptcy law, as well as related state and federal laws, examining the interaction between changes in the laws and changes in how people in each state used the bankruptcy law. In this thorough investigation, Hansen and Hansen reach novel conclusions about the causes and consequences of bankruptcy, adding nuance to the discussion of the relationship between bankruptcy rates and economic performance.

Detroit Resurrected: To Bankruptcy and Back

Detroit Resurrected: To Bankruptcy and Back PDF Author: Nathan Bomey
Publisher: W. W. Norton & Company
ISBN: 0393248925
Category : History
Languages : en
Pages : 347

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Book Description
What happens when an iconic American city goes broke? At exactly 4:06 p.m. on July 18, 2013, the city of Detroit filed for bankruptcy. It was the largest municipal bankruptcy in American history—the Motor City had finally hit rock bottom. But what led to that fateful day, and how did the city survive the perilous months that followed? In Detroit Resurrected, Nathan Bomey delivers the inside story of the fight to save Detroit against impossible odds. Bomey, who covered the bankruptcy for the Detroit Free Press, provides a gripping account of the tremendous clash between lawyers, judges, bankers, union leaders, politicians, philanthropists, and the people of Detroit themselves. The battle to rescue this iconic city pulled together those who believed in its future—despite their differences. Help came in the form of Republican governor Rick Snyder, a technocrat who famously called himself “one tough nerd”; emergency manager Kevyn Orr, a sharp-shooting lawyer and “yellow-dog Democrat”; and judges Steven Rhodes and Gerald Rosen, the key architects of the grand bargain that would give the city a second chance at life. Detroit had a long way to go. Facing a legacy of broken promises, the city had to seek unprecedented sacrifices from retirees and union leaders, who fought for their pensions and benefits. It had to confront the consequences of years of municipal corruption while warding off Wall Street bond insurers who demanded their money back. And it had to consider liquidating the Detroit Institute of Arts, whose world-class collection became an object of desire for the city’s numerous creditors. In a tight, suspenseful narrative, Detroit Resurrected reveals the tricky path to rescuing the city from $18 billion in debt and giving new hope to its citizens. Based on hundreds of exclusive interviews, insider sources, and thousands of records, Detroit Resurrected gives a sweeping account of financial ruin, backroom intrigue, and political rebirth in the struggle to reinvent one of America’s iconic cities.

Bankruptcy

Bankruptcy PDF Author: Janet Lombardi
Publisher:
ISBN: 9781942762379
Category : Biography & Autobiography
Languages : en
Pages : 288

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Book Description
When Janet Lombardi phoned her financial advisor on a gray January day in 2007, she discovered something frightening. Her husband, Josh, an attorney, had emptied accounts without her knowledge. Her advisor spoke bluntly to her: Get yourself a good accountant, attorney, and private eye. Bankruptcy: A Love Story, Lombardi's debut memoir, lays bare the financial and other infidelities in her marriage. It traces the story of her family's plunge into economic turmoil as Josh faces prosecution and prison. Set against the backdrop of September 11th, the memoir roller coasters through sexual desire, addiction, financial collapse, and squandered love. As wife and mother, Lombardi confronts her own desires and demons as she travels the road to survival and navigates questions of love and redemption. Bankruptcy: A Love Story adds a human face to the headlines and statistics about sub-prime mortgages and debt-financed living. In 2010, home foreclosures in the United States reached an all-time high with more than one million people losing their homes. Americans have suffered the effects of these tough economic times, but few have captured the frightening ride in such detail. Bankruptcy: A Love Story takes the reader down the well and back up into the light. Ultimately, that road back is lined with painful choices, desperate moves, and the knowledge that letting go provides the only real answer.

The Hell of the English

The Hell of the English PDF Author: Barbara Weiss
Publisher: Bucknell University Press
ISBN: 9780838750995
Category : Literary Criticism
Languages : en
Pages : 234

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Book Description
This book identifies and traces bankruptcy as an archetypal experience of the Victorian age and as a major metaphor in the language, imagery, and structure of the Victorian novel. With reference to selected works by Eliot, Bronte, Gaskell, Dickens, and Thackeray, it presents the range of symbolic meanings of the bankruptcy metaphor.

Bankruptcy in United States History

Bankruptcy in United States History PDF Author: Charles Warren
Publisher: Beard Books
ISBN: 9781893122161
Category : Business & Economics
Languages : en
Pages : 212

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Book Description


Spiritual Bankruptcy

Spiritual Bankruptcy PDF Author: John B. Cobb
Publisher: Abingdon Press
ISBN: 1426702957
Category : Religion
Languages : en
Pages : 231

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Book Description
In these times many people feel that their cherished religious values are held hostage by the forces of secularization and that, as a consequence, society is morally bankrupt. While acknowledging this problem, John Cobb overturns the prevailing expectations by drawing a distinction between secularization and secularism. Secularization, as Cobb uses the term, has a prophetic function. It is a process by which religion is cleansed and refocused on mission and ministry rather than on other-worldly myths and concerns. The uncritical understanding of religion that focuses on religion for its own sake is what Cobb calls secularism. In Cobb's view, secularization has led to secularism or a culture of consumerism that threatens those very religious convictions many hold dear. After teasing the concepts of secularization and secularism apart, Cobb proposes an alternate path for secularization that will help us reevaluate our relation to our world and each other.

Want

Want PDF Author: Lynn Steger Strong
Publisher: Henry Holt and Company
ISBN: 1250247535
Category : Fiction
Languages : en
Pages : 224

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Book Description
Named a Best Book of 2020 by Time Magazine, The Los Angeles Times, NPR, Vulture, The New Yorker, and Kirkus Grappling with motherhood, economic anxiety, rage, and the limits of language, Want is a fiercely personal novel that vibrates with anger, insight, and love. Elizabeth is tired. Years after coming to New York to try to build a life, she has found herself with two kids, a husband, two jobs, a PhD—and now they’re filing for bankruptcy. As she tries to balance her dream and the impossibility of striving toward it while her work and home lives feel poised to fall apart, she wakes at ungodly hours to run miles by the icy river, struggling to quiet her thoughts. When she reaches out to Sasha, her long-lost childhood friend, it feels almost harmless—one of those innocuous ruptures that exist online, in texts. But her timing is uncanny. Sasha is facing a crisis, too, and perhaps after years apart, their shared moments of crux can bring them back into each other’s lives. In Want, Lynn Steger Strong explores the subtle violences enacted on a certain type of woman when she dares to want things—and all the various violences in which she implicates herself as she tries to survive.

The Reconstruction of Southern Debtors

The Reconstruction of Southern Debtors PDF Author: Elizabeth Lee Thompson
Publisher: University of Georgia Press
ISBN: 9780820326245
Category : Law
Languages : en
Pages : 228

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Book Description
Based on a careful empirical study of nearly four thousand cases filed in three southern federal districts, this book focuses on how the Bankruptcy Act of 1867 helped shape the course and outcome of Reconstruction. Although passed by a Republican-dominated Congress that was commonly viewed as punitive toward the post-Civil War South, the Bankruptcy Act was a great benefit to southerners. In this first study of the operation of the 1867 Act, Elizabeth Lee Thompson challenges previous works, which maintain that nineteenth-century southerners uniformly opposed federal bankruptcy laws as threatening extensions of federal power. To the contrary, Thompson finds that southerners, faced with the war’s devastation, were more likely to file for bankruptcy than debtors in other parts of the country. The Act thus was the major piece of federal economic legislation that benefited southerners during Reconstruction. Thompson determines that because the vast majority of the Bankruptcy Act’s southern beneficiaries were propertied white men, the legislation served to stabilize and entrench the postwar economic--and thus social and political--power of the sector that included those who were recently leading secessionists and Confederates. Their participation in a federal process, through federal tribunals, during an era of intense white southern opposition to policies emanating from Washington reveals the complex interaction of states' rights ideology and self-interest. However, Thompson shows, white southerners ultimately sacrificed neither in relation to the Bankruptcy Act. After thousands had received economic relief through the statute and the number of filings had slowed to a trickle, southern congressmen supported the Act’s repeal in 1878.