Posted by Mark J. Roe, Harvard Law School, and David A. Skeel, University of Pennsylvania, on Wednesday, August 17, 2016
Editor's Note:
Mark J. Roe is the David Berg Professor of Law at Harvard Law School, and David A. Skeel is S. Samuel Arsht Professor of Corporate Law at the University of Pennsylvania Law School. This post is based on a recent op-ed article by Professors Roe and Skeel published today in the New York Times DealBook, available here.
The House of Representatives is pushing to enact a bankruptcy act for banks.
It has passed a bankruptcy-for-banks bill, sent it to the Senate, and now embedded it in its appropriations bill, meaning that if Congress is to pass an appropriations bill this year, it may also have to enact the bankruptcy-for-banks bill.
Is that a good idea?