U.S. Rep. Katie Porter, the law professor turned Congresswoman, spoke to the ABI luncheon at this year's NCBJ. Like many of the speakers, she had an Elizabeth Warren story. When she was attending Harvard Law School, she was told that she needed to take tax so she could learn how to study a statutory code. She couldn't get the professor she wanted so she ended up taking bankruptcy from Prof. Elizabeth Warren.
She said that capitalism encourages risk taking. It rewards winners but doesn’t
provide for the losers. Bankruptcy protects against the downsides of capitalism.
