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Righting Others' Wrongs: A Critical Analysis Of Clawback Suits In The Wake Of Madoff-Type Ponzi Schemes And Other Financial Frauds, Amy Sepinwall
Righting Others' Wrongs: A Critical Analysis Of Clawback Suits In The Wake Of Madoff-Type Ponzi Schemes And Other Financial Frauds, Amy Sepinwall
Amy J. Sepinwall
In a typical Ponzi scheme, early investors earn “profits” not through any legitimate investment activity on the part of the Ponzi scheme operator; instead the operator simply transfers money that later investors deposit to the earlier investors who seek redemptions. As such, when the scheme goes bust, as it must, the Ponzi scheme operator will not have enough money to cover all of the investors’ deposits, let alone the earnings on those deposits that the investors thought they were owed. Should the scheme’s winners – i.e., those who withdrew more money than they deposited – be compelled to return their …
Bringing Bailouts To Court: Applying Previously Unrealized Parallels Between Finance And Patents To Solve Economic Crises, Timothy Li
Timothy Li
This Note argues that the Dodd-Frank Act will not prevent future government bailouts of failing banks, because Congress already promised and failed to end bank bailouts only twenty years earlier in response to the Savings and Loans Crisis. Rather than rely on extra-judicial remedies like the Orderly Liquidation Authority, banks should be brought to court in expedited finance trials subject to appeal to the Federal Circuit. One possible model could be expedited patent trials at the U.S. International Trade Commission. In fact, many previously unrealized parallels exist between finance and patents. Both require high technical expertise, benefit from nationwide jurisdiction, …