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Oversight Liability For Risk Management Failures At Financial Firms, Robert T. Miller

Robert T Miller

Many people believe that excessive risk-taking at large financial firms was an important cause of the financial crisis in 2007-2008 and thus that preventing another crisis requires improving risk-management systems at such institutions. One way to do this would be to use board oversight liability to hold directors personally liable for failing properly to monitor the risks that their firms are running. The purpose of this Article is to determine what role director oversight liability can efficiently play in improving risk-management practices at large financial firms.

A key contention of the Article is that previous treatments of this problem have …

Waiting For St. Vladimir, Robert T. Miller

Robert T Miller

Alasdair MacIntyre believes that the Aristotelian, virtue-theoretic morality he supports is incompatible with the economic arrangements of capitalism. In this brief article, I show that MacIntyre's main arguments for this thesis are based on discredited theories from Marx, not Aristotle, and that the arguments MacIntyre that gives that really are based on Aristotelian, virtue-theoretic notions all fail.