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Full-Text Articles in Law
Inside Safe Assets, Anna Gelpern, Erik F. Gerding
Inside Safe Assets, Anna Gelpern, Erik F. Gerding
Publications
“Safe assets” is a catch-all term to describe financial contracts that market participants treat as if they were risk-free. These may include government debt, bank deposits, and asset-backed securities, among others. The International Monetary Fund estimated potential safe assets at more than $114 trillion worldwide in 2011, more than seven times the U.S. economic output that year.
To treat any contract as if it were risk-free seems delusional after apparently super-safe public and private debt markets collapsed overnight. Nonetheless, safe asset supply and demand have been invoked to explain shadow banking, financial crises, and prolonged economic stagnation. The economic literature …
Consumer Bankruptcy: A Roundtable Discussion, Janice E. Kosel
Consumer Bankruptcy: A Roundtable Discussion, Janice E. Kosel
Publications
No abstract provided.
Limitations On Use Of The California Homestead Exemption In Bankruptcy Cases: The Case For Following In Re Pladson, Leslie Burton, Jeffrey C. Wurms
Limitations On Use Of The California Homestead Exemption In Bankruptcy Cases: The Case For Following In Re Pladson, Leslie Burton, Jeffrey C. Wurms
Publications
Two decisions, a 1991 California Court of Appeal decision, Spencer v. Lowery, and a 1993 United States District Court for the Northern District of California decision, In re Pladson, severely restricted the homestead exemption available in bankruptcy cases filed in California. Some bankruptcy courts have refused to follow the Spencer and Pladson cases and the California Legislature has passed new legislation on the use of the homestead exemption in bankruptcy. This article will explore the background and rationale of the decisions and the legislative scheme, and offer support for limiting the Homestead exemption in bankruptcy cases.