“Lehman is a sufficiently complicated company that it would be safe to assume that if it weren’t for equally sophisticated professionals running the Chapter 11 case, that the creditors would essentially receive nothing,” says Stephen J. [read post]

Previously arcane arguments over the constitutionality of the public debt limit now make headlines.[1]  At the same time, debate swirls around whether the President of the United States has the constitutional authority, resting on Section Four of the 14thamendment, to ignore the debt limit. [read post]