The Bloomberg bankruptcy podcast opens with a story about how Rafael Palmeiro could hit home runs in major league ballparks although not in the real estate business in Texas. Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle then explain why the Federal Deposit Insurance Corp. lost a $550 million lawsuit against bank holding company AmTrust Financial Corp. They also report how Alabama Aircraft Industries Inc., a maintenance shop for the U.S. Air Force, attracted no acceptable buyers at an auction that had been set for June 6. The podcast ends with an analysis of meaning behind statistics showing a small increase in the junk-bond default rate.
Running time 11:00