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Critique of a Proposal to Allow State Bankruptcy

Engage Volume 12, Issue 2, September 2011
By John S. Baker, Jr.
September 12, 2011

A proposal by Professor David Skeel of the University of Pennsylvania Law School would change federal bankruptcy law so as to allow states the option of declaring bankruptcy. Professor Skeel, a renowned authority on bankruptcy, has performed an important public service by focusing attention on the “the next frontier in ‘too big to fail’” and by prompting consideration of important constitutional issues...