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Desperadoes: Part 2, why don’t you come to your senses?

30 November, 2012 (11:36) | Bankruptcy, Banks, Catalonia, Deed-in-lieu, Ecosystem, Eurozone, Foreclosure, Global news, Homeownership, Markets, Restructuring, Short sales, Spain, Workouts |

By:David A. Smith   [Continued from yesterday’s Part 1.]   In yesterday’s post, which used an intriguing Wall Street Journal (November 11, 2012) article on the possibility that Spain will reform its antiquated and self-defeating mortgage-damnation system, we saw that under current Spanish law defaulting borrowers can never escape their debts, with destructive consequences that […]

Desperadoes: Part 1, your pain and your hunger, drivin’ you home

29 November, 2012 (11:34) | Bankruptcy, Banks, Catalonia, Deed-in-lieu, Ecosystem, Eurozone, Foreclosure, Global news, Homeownership, Markets, Restructuring, Short sales, Spain, Workouts |

By:David A. Smith   When a system becomes swamped by the scale of failure, then its anachronisms become exposed and its previous protocols break down.  But what comes after, when the situation is desperate?    Desperado, why don’t you come to your senses? You been out ridin’ fences for so long now Oh, you’re a […]

Vampire Sandy

28 November, 2012 (15:40) | Cities, Disaster recovery, Environmental, EPA, Housing, Law, Litigation, New York City, Sandy, Torts, US News, Vampires |

By:David A. Smith   When a crypt floods, the rising water floats its coffins, so that when it is reopened, they appear to have been flung about by vampires.   I sure hope it wasn’t toxic waste   Long ago, I learned that when it comes to environmental hazards, the best policy is laissez faire […]

CAC-handed

27 November, 2012 (15:22) | Argentina, Bonds, Capital markets, Collateral, Equitable principles, Global news, Law, Recapitalization, Sovereign bankruptcy, Theory, Workouts |

By:David A. Smith Though virtue often has to be its own reward, every now and then standing up for principle and not knuckling under to sovereign coercion is sometimes acknowledged even if not rewarded, and that is rare enough to be celebrated even if it is only an interim victory, as reported recently in the […]

Ask the voters who legalized Mary Jane

26 November, 2012 (17:06) | Apartments, Boston, Enforcement, Inclusionary zoning, Landlords, Law, Leases, Marijuana, Massachusetts, Regulation, Rental, Torts, Zoning |

By:David A. Smith   By fits and starts, out of fiscal necessity (dressed up in compassion and tolerance) America is legalizing marijuana – and as the collapse of an order is often more chaotic than its establishment, the law we Massachusetts voters just passed is already giving landlords headaches, as revealed in this snickering article […]