It looks like Louisiana's unique laws worked to the state's benefit in this instance:
Louisiana was considered a favorable market for the startup because the state's Uniform Commercial Code, the set of laws regulating commercial transactions, is unlike that of most other states in allowing for the sale of receivables.
Letters in Bottles began in January 2005 as "Letters in Bottles: The Island Pundit" at the University of Wisconsin. Started by Steve S, the blog includes a number of regular contributors, all of whom met originally on the "island" of Madison. We are: A veteran of the Iraq War. A former Peace Corps volunteer in the Caucasus. A law student in New Orleans. An Engineering grad student. We comment regularly on politics, world affairs, culture, news, music, and much more.