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Full-Text Articles in Law
Engineered Credit Default Swaps: Innovative Or Manipulative?, Gina-Gail S. Fletcher
Engineered Credit Default Swaps: Innovative Or Manipulative?, Gina-Gail S. Fletcher
Articles by Maurer Faculty
Credit default swaps (“CDS”) are, once again, making waves. Maligned for their role in the 2008 financial crisis and condemned by the Vatican, investors are once more utilizing CDS to achieve results of questionable market benefit. A CDS is a financial contract that allows investors to “bet” on whether a borrower will default on its loan. However, rather than waiting to see how their bets pan out, some CDS investors are collaborating with financially distressed borrowers to guarantee the profitability of their CDS positions—“engineering” the CDS’ outcome. Under the CDS contract, these collaborations are not prohibited, yet they have roiled …
Salman V. United States: Insider Trading's Tipping Point?, Donna M. Nagy
Salman V. United States: Insider Trading's Tipping Point?, Donna M. Nagy
Articles by Maurer Faculty
No abstract provided.
The Viability Of Enterprise Jurisdiction: A Case Study Of The Big Four Accounting Firms, Hannah L. Buxbaum
The Viability Of Enterprise Jurisdiction: A Case Study Of The Big Four Accounting Firms, Hannah L. Buxbaum
Articles by Maurer Faculty
One of the boundaries that U.S. courts must observe as they adjudicate regulatory disputes is the limit on their own jurisdictional authority -authority that is measured at the level of the particular forum state. Confronting the expansion of U.S. business activity from the local to the national scale during the second half of the twentieth century, courts consciously broadened jurisdictional standards to address the expanded activities of nationwide corporate groups. Today, by contrast, as the economy continues to expand from the national to the transnational scale, the U.S. Supreme Court has begun a retrenchment. In cases decided during the past …
Transnational Regulatory Litigation, Hannah Buxbaum
Transnational Regulatory Litigation, Hannah Buxbaum
Articles by Maurer Faculty
Recent years have seen much debate about the role of national courts in addressing global harms. That debate has focused on the application by domestic courts of international law - for instance, in civil actions brought in U.S. courts to enforce human rights law. This article identifies a parallel development in the area of economic regulation. It classifies and analyzes a category of cases that seek the application of regulatory law by domestic courts in situations involving global economic misconduct. Like the public international law cases, these cases highlight the tension between the benefits to be gained by enhanced enforcement …
From Insull To Enron: Corporate (Re)Regulation After The Rise And Fall Of Two Energy Icons, William D. Henderson, Richard D. Cudahy
From Insull To Enron: Corporate (Re)Regulation After The Rise And Fall Of Two Energy Icons, William D. Henderson, Richard D. Cudahy
Articles by Maurer Faculty
For most Americans, the collapse of the Enron Corporation is without doubt the most memorable corporate event of their generation. Remarkably, few people are aware that the New Deal regulatory framework - which Congress recently reformed and toughened to in response to the Enron debacle - was itself erected in the wake of a strikingly similar corporate crash. In late 1931 and early 1932, the country looked on in horror as Samuel Insull's mighty and seemingly invulnerable electric utility holding company empire collapsed without warning, wiping out the holdings of over 1 million investors, most of whom believed that they …
Municipal Securities Market: Same Problems -- No Solutions, Ann Judith Gellis
Municipal Securities Market: Same Problems -- No Solutions, Ann Judith Gellis
Articles by Maurer Faculty
This article examines the existing regulations of the municipal securities market, focusing on what activities prompted the regulatory changes and analyzing the direction and efficacy of these regulations in terms of the deficiencies in the market. Part One gives a background sketch of the market and its participants from the time of the New York City fiscal crises to today. Part Two discusses whether the existing regulation is sufficient to produce disclosure, focusing on the Orange County crises. Part Three offers a critique of the current regulatory scheme and makes some suggestions for reform.
The Listing Of Daimler-Benz Securities On The Nyse: Conflicting Interests And Regulatory Policies, J. William Hicks
The Listing Of Daimler-Benz Securities On The Nyse: Conflicting Interests And Regulatory Policies, J. William Hicks
Articles by Maurer Faculty
No abstract provided.
Misrepresentation In The Sale Of Stock: Which Buyers Are Protected?, J. William Hicks
Misrepresentation In The Sale Of Stock: Which Buyers Are Protected?, J. William Hicks
Articles by Maurer Faculty
No abstract provided.
The Concept Of Transaction As A Restraint On Resale Limitations, J. William Hicks
The Concept Of Transaction As A Restraint On Resale Limitations, J. William Hicks
Articles by Maurer Faculty
No abstract provided.