Quick quiz: What caused the Great Recession of 2008?
OK, I admit it. That’s an unfair question. It was complicated. If you’ve done some homework, you might be able to mumble something about a housing bubble, subprime lending, mortgage-backed securities, credit-default swaps, big banks, irresponsible borrowers, George W. Bush, Barack Obama….
But there is one thing I can be fairly certain you will not mention: the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). You may not have heard of BAPCPA or, if you have, it may only be a foggy memory. So, here is a little history: