Open Access. Powered by Scholars. Published by Universities.®

Law Commons

Open Access. Powered by Scholars. Published by Universities.®

Articles 1 - 5 of 5

Full-Text Articles in Law

Financial Hospitals: Defending The Fed’S Role As A Market Maker Of Last Resort, José Gabilondo Aug 2016

Financial Hospitals: Defending The Fed’S Role As A Market Maker Of Last Resort, José Gabilondo

José Gabilondo

During the last financial crisis, what should the Federal Reserve (the Fed) have done when lenders stopped making loans, even to borrowers with sterling credit and strong collateral? Because the central bank is the last resort for funding, the conventional answer had been to lend freely at a penalty rate against good collateral, as Walter Bagehot suggested in 1873 about the Bank of England. Acting thus as a lender of last resort, the central bank will keep solvent banks liquid but let insolvent banks go out of business, as they should. The Fed tried this, but when the conventional wisdom ...


Limits Of Disclosure, Steven M. Davidoff, Claire A. Hill Jul 2014

Limits Of Disclosure, Steven M. Davidoff, Claire A. Hill

Steven Davidoff Solomon

One big focus of attention, criticism, and proposals for reform in the aftermath of the 2008 financial crisis has been securities disclosure. Many commentators have emphasized the complexity of the securities being sold, arguing that no one could understand the disclosure. Some observers have noted that disclosures were sometimes false or incomplete. What follows these issues, to some commentators, is that, whatever other lessons we may learn from the crisis, we need to improve disclosure. How should it be improved? Commentators often lament the frailties of human understanding, notably including those of everyday retail investors—people who do not understand ...


Beyond The Inevitable And Inadequate Regulation Of Bankers: A Comment On Painter, Lyman Johnson Jan 2013

Beyond The Inevitable And Inadequate Regulation Of Bankers: A Comment On Painter, Lyman Johnson

Lyman P. Q. Johnson

No abstract provided.


Improving Fraudulent Transfer Law In Leverage Buy-Outs Through Judicial Certainty & Reliability, Vincent V. Hilldrup Dec 2012

Improving Fraudulent Transfer Law In Leverage Buy-Outs Through Judicial Certainty & Reliability, Vincent V. Hilldrup

Vincent V. Hilldrup

LBOs that file for bankruptcy are routinely challenged under fraudulent transfer law, where plaintiffs allege that the LBO unreasonably reduced the target’s liquidity and capital adequacy, saddled it with debt and was completed as a means of funneling company assets to both current and former shareholders. These cases will bestow upon bankruptcy courts the responsibility and power of efficiently allocating billions of dollars to classes of creditors and clawing back funds from shareholders. Since these cases will have a crucial impact on the overall economy, it is imperative that bankruptcy courts wield their authority and power in a predictable ...


Operações De Crédito Dentro De Grupos Financeiros: Governança Corporativa Como Complemento À Regulação Bancária, Bruno Meyerhof Salama, Viviane Muller Prado Dec 2010

Operações De Crédito Dentro De Grupos Financeiros: Governança Corporativa Como Complemento À Regulação Bancária, Bruno Meyerhof Salama, Viviane Muller Prado

Bruno Meyerhof Salama

Este trabalho enfoca uma área na qual instrumentos de governança corporativa podem constituir uma alternativa viável para a melhoria da regulação bancária: a regulação das operações de crédito entre instituições financeiras e suas controladoras.