Trading One Crisis For Another: How Certain Proposed "Reforms" Could Turn the Subprime Crisis into a Constitutional One
Seth Pierce authored a just-published chapter in Navigating the Subprime Lending Industry, Leading Lawyers on Understanding the Subprime Collapse, the Causes of the Current Lending Climate, and the Industry's Pending Future. The chapter focuses on the constitutionality of interest rate freezes and foreclosure moratoriums -- two "solutions" promoted by various Presidential candidates and consumer advocacy groups. With the assistance of Paul Guelpa, Seth and Andy offer a thoughtful and evenhanded analysis of the legal viability of such measures.
MSK's Subprime Practice Group is an interdisciplinary team of litigation, bankruptcy and corporate lawyers with substantial experience navigating and litigating subprime related issues.