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Cleaning Up The Refuse From A Financial Crisis: The Case For A Resolution Management Corporation, James Thomson
Cleaning Up The Refuse From A Financial Crisis: The Case For A Resolution Management Corporation, James Thomson
James B Thomson
Systemic banking and financial crises invariably result in the transfer of a large volume of distressed financial assets into the hands of the government, which must later dispose of them. The fiscal and economic costs of the crisis and the speed of recovery depend on how effectively the government’s salvage operations can re-privatize these assets. To maximize the operations’ effectiveness, I propose that the government create a temporary resolution management corporation. Drawing on Kane’s (1990) asset-salvage principles, as well as the U.S. experience with special-purpose entities for managing and disposing of assets stripped from distressed financial firms’ balance sheets, I …
Speech Torts, Deana Ann Pollard Sacks
Speech Torts, Deana Ann Pollard Sacks
Deana A Pollard
Tort liability for speech raises important concerns about federalism, self-government, and autonomy. The Supreme Court has resolved the free speech-tort law conflict in a number of cases by balancing the nature of the speech subject to tort liability against the nature of the state’s interest in imposing tort liability, then “constitutionalizing” the tort to meet First Amendment demands by raising the burden of proof to establish a prima facie case. The Supreme Court has repeatedly denied review of tort liability for speech based on a theory of negligence, and most lower courts have adopted a categorical approach to immunize violent …