Here is a story involving: a bankruptcy attorney and his disgruntled client who also happens to be a blogger.  A recent opinion from a Federal District Court on involving these characters holds that a blogger is not afforded the protections of a journalist.  Thus the disgruntled client may be more apt to be held liable in her ex [...]

Rapper Souldja Boy is served with eviction papers on his almost $5,000 a month apartment. 

“This is a rather grim end to a hardly wonderful 2011 for the rapper. Previously this year, he’s been arrested for marijuana and gun possession, was found to be lying about buying a private jet, got told he owed a significant [...]

It is enough to make any car guy cry: a crash in Japan smashed up the likes of 8 Ferraris (evidently including a Testarossa, an F512, F355, F430 and an F360), 1 Nissan GT-R Skyline,  three Mercedes Benz automobiles and a Lamborghini Diablo.  The good news is that no one was injured.  One has to wonder about the wisdom [...]

Unrelated to any bankruptcy or economic news, here is a story about an arrest at Tulane University which was interesting.   With Mr. M’Boob’s background (many criminal charges pending and no visa for 23 years) one wonders how he was admitted to the school. 

“Ousman M’Boob, a 42-year-old School of Continuing Studies student, was escorted from his [...]

“The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.

The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on [...]

WASHINGTON (AP) — The court-appointed trustee overseeing MF Global’s bankruptcy says up to $1.2 billion is missing from customer accounts, double what the firm had reported to regulators last month.

The trustee, James Giddens, also said in a statement Monday that his plans to release about $520 million from accounts that have been frozen will mean [...]

“Newt Gingrich made between $1.6 million and $1.8 million in consulting fees from two contracts with mortgage company Freddie Mac, according to two people familiar with the arrangement.

The total amount is significantly larger than the $300,000 payment from Freddie Mac that Gingrich was asked about during a Republican presidential debate on Nov. 9 sponsored by [...]

“For the roughly 660,000 residents of Jefferson County, which includes Birmingham, the state’s largest city, bankruptcy means a threat to essential jobs and services. More immediately, it means sewer system rate hikes, an added burden on poor people already saddled with some of the highest rates in the country.

‘It’s terrible for the sewer rate payer,’ [...]

“In another sign of America’s fiscal mess, Jefferson County, Alabama filed the largest municipal bankruptcy in U.S. history on Wednesday. The most-populous county - home of Birmingham - defaulted on more than $3 billion of debt related to a sewer system project after negotiations with creditors broke down.

The biggest loser - besides the locals - [...]

Regarding the recent mega filing, Dynegy, here is a commentary which I found interesting.  Of course, this humble author does not agree or disagree with the contents hereof.  

“Next, the second-level holding company — the one that filed for Chapter 11 — converted from a Delaware corporation to a Delaware L.L.C. I have not seen any explanation [...]