From antiquity (photo by Marilyn Swanson) By: Donald L Swanson Conceit-of-the-present is this: thinking that people of today are smarter, more sophisticated and better than people of the past. There is, of course, some truth in that conceit for today: (i) improved hygiene and medicine, for example, enable people of today to be bigger, stronger and... Continue Reading →
A 1909 Perspective On Bankruptcy Laws v. Similar State Laws (From Samuel Williston)
Food for thought? (Photo by Marilyn Swanson) By: Donald L Swanson Every now and then we get a glimpse into the past . . . that casts light on issues and events of today. One such glimpse is a Harvard Law Review article from 1909: “The Effect of a National Bankruptcy Law upon State Laws.”[Fn. 1].... Continue Reading →
An Olde Argument For Bankruptcy Laws (From 1755): A Lesson For Today
History: From Colonial Times (Photo by Marilyn Swanson) By: Donald L Swanson Bankruptcy issues have been around for a very long time—for centuries, in fact. And bankruptcy issues have been discussed in these United States for the entire time of our existence--and before. Even in our Colonial times (prior to 1776), bankruptcy and insolvency issues were... Continue Reading →
Bankruptcy Laws v. Insolvency Laws: A Debtors’ Prison Distinction (Sturges v. Crowninshield)
Flying high (photo by Marilyn Swanson) By: Donald L Swanson Over the past two hundred and thirty years, the United States of America has been flying high on a massive economic expansion, punctuated periodically by times of economic stress or crisis. Bankruptcy laws have struggled to keep pace with the expansion and occasional turmoil. An earliest... Continue Reading →
First-Ever U.S. Bankruptcy Law — Enacted With A Pandemic’s Help
The Bankruptcy Act of 1800 By: Donald L Swanson 1800 is the year Congress adopts its first bankruptcy law under the "Bankruptcies" clause of the newly-ratified U.S. Constitution. Congress’s Bankruptcy Act of 1800 is modeled after England’s bankruptcy laws. But there is a significant difference: the focus of England’s bankruptcy laws, back then, is exclusively on... Continue Reading →
History of Bankruptcy: From the Torah, the Talmud and the Mishnah
By: Donald L. Swanson For starters, see my "Disclaimer" below. “The Torah is the Hebrew Bible,” consisting of the books of Genesis, Exodus, Leviticus, Numbers, Joshua, Psalms, Book of Ruth, etc.; and the Talmud “is the compilation of the historical rabbis ‘discussing’ or ‘debating’ what the Torah means.” [Fn. 1] The Mishnah is “an edited record”... Continue Reading →