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Baltimore After The War Of 1812: Where Robert Mills Met His Waterloo And When James A. Buchanan Broke The Bank, Garrett Power
Baltimore After The War Of 1812: Where Robert Mills Met His Waterloo And When James A. Buchanan Broke The Bank, Garrett Power
Garrett Power
In 1815 Baltimore City was boom town. Its militiamen had repulsed the British sea invasion and presaged an end to the War of 1812. Napoleon’s defeat at Waterloo in 1815 signaled an end to European wars. Freedom of the seas had been restored. The Baltimore “Clipper” was the best sailing ship on the ocean. Baltimore looked to become the country’s leading exporter of grain, flour, and tobacco. Merchant James A. Buchanan, a partner in one of the country’s greatest shipping firms, had been named President of the Baltimore Branch of the Second National Bank of the United States. Civic leaders …
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 …