Susan Estrich has been called one of the most influential public intellectuals of the century
Short century. ... [But she helped elect a President--ed True!] 2:23 A.M.
Did the 2005 bankruptcy reform exacerbate the subprime mortgage crisis? Blogger (and bankruptcy lawyer) Steve Smith predicted it would a year ago.
Those people who are now threatened with the foreclosure of their homes will be visiting my office soon, as well as the offices of other bankruptcy attorneys (oops, my bad: other "debt relief agencies"), but without the protections Chapter 7 and 13 debtors had under the old law.
And as a consequence, more people will lose their homes in the end to foreclosure, which will further depreciate the value of real estate, which will suck even more money out of the economy.
Bloomberg reports that this is just what is happening. ... 2:14 A.M.
Thursday, November 8, 2007
Voters 'Grow Wary' of Politicians: The poli-sci cliche has been that voters hate politicians but love their own Congressman. Comes now the NBC/WSJ poll finding that "just 39% of respondents believe their OWN member of Congress deserves re-election; 51% say it's time to give someone new a chance." First Read calls the number "staggering"--which is what I thought until I looked at the poll's own historical data, which show that it was worse (51-37) in November of 2005, even worse two months before the 1994 anti-incumbent election (53-20) and still worse months before the 1992 election (62-27). It's only been in positive territory about a fifth of the time. ... 12:24 P.M.
Breaking It To Them Slowly: