The California Spectator/Let's Rake a Deal
Stein, Benjamin J.
THE CALIFORNIA SPECTATOR LET'S RAKE A by Benjamin J. Stein H ere, verbatim to the extent that I "Reverse bankruptcy?" I asked. get to avoid the adverse emotional and tion recognizing the hurt of...
...I threw my bottle of Blackstone Benjamin J. Stein is a writer and pro- water into the waste paper basket and ducer living in Hollywood walked toward the courthouse...
...Huge...
...Enormous...
...day...
...get to avoid the adverse emotional and tion recognizing the hurt of seeing remember it, is the conversation "What's reverse bankruptcy...
...the common law...
...There is a basic, perfect, legal, basically allows people to do the same ruptcy" and "fraternal equalization well for you, you sue and get the deal and moral symmetry in the two causes thing...
...No in- then you can sue to rescind that deal...
...Think of what a mess we ly June of 1989, and gave birth to the bankruptcy if you did not do a deal tional consequences of avoiding the would be in without bankruptcy, which revolutionary concepts of "reverse bank- that would have turned out incredibly deal...
...And yet the that I'd like to buy, but it's a little too pain of seeing your relative or friend steep for me...
...If you win your "And with the recognition by the law should there not also be a cause of ac-Angeles, called my friend and college suit, and show that you are truly suf- that pain and enjoyment are legally tion in which if a friend or relative does classmate of long ago, Larry Lissitzyn, fering, and had good and reasonable cognizable, quantifiable elements of in- a deal or makes an investment which who practices law in Hartford, Con- causes for not doing the deal, but then jury, surely there cannot be an injury turns out incredibly well, and if that necticut...
...reinstated as it would have been if you of action...
...Then he hung up...
...But then On that morning, I, who live in Los had originally done it...
...Ben," he said, "don't buy "Benjy," my friend Larry said over it...
...I totally agree," I said...
...confidently...
...Then, if it goes up rapidly, if it goes the long-distance wire, "this could be up incredibly, sue for reverse bankrupt- the start of a beautiful friendship...
...of broken glass...
...Clearly, your relative or mind...
...and commentator on law and econom- son who did do the deal, which are jury without an action' is a maxim of "Of course," Larry said after a moics here in Sunny Cal...
...rescission...
...I found a house here in Malibu "Certainly not," I said...
...great profits in deals you might have that changed law, economics, and per- "It's a concept, a cause of action I've In reverse bankruptcy, you get to re- done but didn't has gone unrecognized sonal relationships...
...I'll just go crazy with of other laws about contracting and frustration if I don't buy it and it hiring...
...paid to you...
...succeed wildly beyond your level is far "That's the way it is for everyone more excruciating than the replacement these days," says Counselor Larry...
...You tle VII and Title VIII and in a number see the problem...
...We're having a huge housing the audacity of it...
...It took place in ear- been toying with," he said...
...In reverse verse the adverse financial and emo- for so long...
...THE AMERICAN SPECTATOR OCTOBER 1989 37...
...In bankruptcy, you that it's shameful that a cause of ac- friend would not be allowed to drive his boom here in L.A...
...Clearly 'fraternal equalization doubles in price...
...financial consequences of doing a deal...
...rescission' is in the same line of legisMy friend and consiglieri laughed lative and judicial precedent...
...Every would he...
...car into your living room window, Prices are going up like crazy...
...See," I said, "if I buy it, I'll have "Moreover, the precedent of having to worry about huge, scary mortgage a legal cause of action which recognizes payments...
...But if I don't buy it, then the need for equality of results rather it'll probably go up tremendously in than equality of opportunity has alvalue, and in two years I'll drive by it ready been endorsed by Congress in Tiand it'll be twice as much money...
...I, for myself, am a former the deal would have worked out well, as grave as not doing a deal that turned causes you complete jealousy and hurt, lawyer and now a world famous actor the court orders damages from the per- out well without a legal redress...
...ment's thought and analysis of the "Larry," I said, "I'm losing my "It's brilliant," I said, reeling from "The real truth," Larry went on, "is precedents...
Vol. 22 • October 1989 • No. 10
