A couple of prior posts on this blog (here and here) have explored the economic and regulatory reasons behind 2008’s financial meltdown, while others (here and here) have explored proposed means of handling distressed financial institutions deeemed systemically important to the nation’s financial markets.
History and propositions are now overtaken by reform. Last Wednesday, the Financial Reform Act (aka the Dodd Frank Act) became law.
Over at Credit Slips, Seton Hall Law Professor Stephen Lubben has offered a very succinct, immediately accessible summary of the Act’s intersection with the US Bankruptcy Code – as well as some helpful links to other, useful material.
Very important reading for those who want the “bullet points” without wading through the nearly 2,300 pages of legislation.