Bankruptcy Balogna

"A federal appeals court in St. Louis ruled Thursday that a provision of a sweeping 2005 federal bankruptcy-overhaul law violates the free-speech rights of lawyers. The 8th Circuit Court of Appeals struck down a provision of the Bankruptcy Abuse Prevention and Consumer Protection Act that barred attorneys from advising clients to take on more debt before they filed for bankruptcy protection. The appeals court, in a 2-1 ruling, said the provision 'prevents attorneys from fulifilling theur duty to clients to give them appropriate and beneficial advice', ... A Justice Department representative said the department was reviewing the decision. Constitutional law professor Edwin Chemerinksy, dean of the University of California-Irvine School of Law, said the invalidated provison was the most significant constitutional problem with the bankruptcy law", Brent Kendall at the WSJ, 5 September 2008.

I agree with Chemerinsky. I wait to see if "Roberts and the Supremes" take this up. Will the big banks tell the DOJ to bring this issue up in another circuit? Stay tuned.