Posts Tagged ‘bankruptcy’

Missing the point, over at the NYTimes

Missing the point, over at the NYTimes

By The Banker | Blog Posts, Inequality

James Stewart writes an interesting piece this morning on a 55 year old NYC attorney who recently declared bankruptcy, after earning in the $375-500K range for the past 20 years for a series of high-powered New York law firms. Stewart’s analysis is that: 1. Being a non-equity partner attorney is tough these days, and 2. [&hellip

Prescience on Detroit Bankruptcy

Prescience on Detroit Bankruptcy

By The Banker | Blog Posts

I’ve been doing summer reading and will soon post my review of Jane Jacobs’ classic 1961 book on urban revitalization The Death and Life of Great American Cities. In the meantime I was struck by a short passage in the book in which she foretells the death of Detroit. On the recently bankrupted Detroit, we [&hellip

The Meaning of Jon Corzine

The Meaning of Jon Corzine

By The Banker | Blog Posts, Wall Street

With the announcement that MF Global Trustee (and former FBI chief) Louis J. Freeh will charge Jon Corzine for failing in his duty to oversee the company, the meaning of Jon Corzine shifts once again. Prior to this announcement, I understood the meaning of Corzine primarily through the following investment aphorism:[1] “One of the worst [&hellip

The USA of I.O.U.

The USA of I.O.U.

By The Banker | Blog Posts, Wall Street

Every once in a while I read a finance article that sticks in my head and never goes away.  An article about the historical intersection of debt and the United States from the New Yorker from four years ago by Jill Lepore is just one of these.[1] The USA of IOU Jill Lepore’s article explains [&hellip

Ask an Ex-Banker: Medical Debt

Ask an Ex-Banker: Medical Debt

By The Banker | Ask an Ex-Banker, Blog Posts, Personal Finance

Dear Banker, I have a question about medical debt. My 36-year-old sister just suffered a brain hemorrhage, collapsing at work and sent to the hospital. I am happy to say that she is expected to make a full recovery, but the treatment and ensuing hospital stay involved a week in intensive care, a neurosurgical “procedure,” [&hellip