Posts Tagged: ‘New York Times’

Bankruptcy Provision for Big Banks Could be Trump’s Next Target

February 6, 2017 Posted by kingcade

The special bankruptcy procedure for large financial institutions may be a Trump target, according to a recent article in the New York Times.  The Dodd-Frank’s bankruptcy provision, originally enacted in 2010 as a response to the financial crisis, allowed the banks who were essentially “too big to fail,” do just that.

Many of the proposals to create a new part of the bankruptcy code for banks have not offered any real solutions.  The proposals provide no real way to deal with anything beyond a very specific form of bank failure.

If the bank fails in any way other than as predicted, the proposed legislation would be useless. This will in turn lead to a plea from Wall Street for bailouts. If that happens during a Trump administration, it will be interesting to see what happens next.

Who could have predicted the failure of Lehman Brothers or the near collapse of  insurance giant, AIG?  The financial panics caused by these collapses result in mass financial destruction- even when some degree of bailout is extended.

There is no doubt that without government assistance to both the banks and the automakers, the effects of 2008-09 would have been far worse.

Click here to read more on this story.

If you are in financial crisis and considering filing for bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com

The State of New York Guarantees Court-Appointed Lawyers to Homeowners Facing Foreclosure

February 18, 2011 Posted by kingcade

A recent article in the American Bar Association (ABA) Journal reports that New York will be the first state to offer all homeowners facing foreclosure a court-appointed attorney. According to the New York Times, there are approximately 80,000 foreclosure cases in the New York state court system. Court officials plan to draw appointed attorneys from legal aid groups and volunteer organizations. Judge Jonathan Lippman, the state’s chief judge, has asked the New York legislature for a $100 million increase for legal services programs over the next four years. The first courts to implement the plan will be in Queens and Orange counties.

To read more on this story, visit:
http://www.abajournal.com/news/article/new_york_to_guarantee_a_lawyer_to_those_in_foreclosure_cases

Foreclosure defense attorney, Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.