Securities Law Commons^™

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

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 or …

Gambling On Our Financial Future: How The Federal Government Fiddles While State Common Law Is A Safer Bet To Prevent Another Financial Collapse, Brian M. Mccall

Brian M McCall

Liquid Assets: A Coasian Economic Analysis Of Oregon's Allocation Of Conserved Water Program, Richard A. Grisel

Richard A Grisel

Diversions for residential, agricultural, recreational, commercial, industrial, and other beneficial uses have had the effect of removing water from rivers and tributaries throughout the western U.S. Another, more recent, competing use is ecological, demonstrated by the legal recognition of instream beneficial uses in some jurisdictions. As awareness of the progressively acute need for reallocation has increased in the arid West, so has interest in water markets and other mechanisms to facilitate transfers across beneficial uses. However, governments and water users face a legacy prior appropriation system that prohibits instream beneficial uses, encourages maximal diversion, stifles water right fungibility, and generally …

Segmented Settlements Are Not The Answer: A Response To Professor Squire’S Article, How Collective Settlements Camouflage The Costs Of Shareholder Lawsuits, Christopher C. French

Christopher C. French

In his recent article, Professor Richard Squire offers a provocative theory in which he claims the underlying claimants in shareholder litigation against corporate policyholders are overcompensated due to what he describes as “cramdown” settlements, under which insurers are forced to settle due to the “duty to contribute” that arises under multi-layered directors and officers (“D&O”) insurance programs. He also offers a novel idea regarding how this problem could be fixed by what he refers to as “segmented” settlements in which each insurer and the policyholder would be allowed to settle separately and consider only its own interests in doing so. …

Capitalización De Intereses Y Cierre De La Cuenta Corriente Bancaria, Martin Paolantonio

Martin Paolantonio

Se analiza la cuestión a propósito de un caso que llegó incluso a la Corte Suprema de Justicia de la Nación. Esencialmente, el tema pasa por la interpretación de la norma que autoriza la capitalización de intereses, sin una referencia expresa a su vigencia luego del cierre de la cuenta corriente bancaria.

Gaming The System: Bio-Economics, Game Theory, & Fisheries Management, Richard A. Grisel

Richard A Grisel

This paper argues that game theory provides powerful, effective new tools to analyze externalities that occur in the context of strategic, multi-party, interactive decision-making. I will attempt to treat this as a non-technical paper and avoid the complex mathematics better left to economists and mathematicians. Instead, a more achievable goal is to illustrate how high-seas open-access fishing is virtually identical to a game situation, treat the fundamentals of game theory, and demonstrate that game theoretic analyses are well-suited and fruitful for designing effective policy responses to fisheries management, particularly with respect to the straddling stocks problem. Indeed, one seminal fisheries …

Reforma Del Mercado De Capitales, Martin Paolantonio

Martin Paolantonio

Primer análisis de la ley 26831, que reforma de manera integral el marco legal del mercado de capitales en la Argentina

Geothermal Resources Under The Mining Law Regime--Problems & Possibilities, Richard A. Grisel

Richard A Grisel

The development of geothermal resources has been greatly hampered by the legal and institutional framework governing geothermal energy resources. This framework has been plagued by conflicting mining and water laws, anachronistic common law systems of property rights, problematic legal classifications of geothermal resources, and jurisdictional variances from state to state and between states and the Federal government. These issues have combined to significantly hinder the development of what will be a vital resource for our nation’s future energy needs.

This thesis concerns one way to address the suboptimal development of geothermal energy resources. Using the Federal acquisition of exclusive airspace …

Negotiability, Property, And Identity, James S. Rogers

James S. Rogers

In this Article, Professor Rogers challenges the assumption that securities transfer law has always been based on negotiable certificates and suggests that the reign of negotiability is a relatively recent, and brief, phase in the long history of investment securities trading. Professor Rogers posits that the difficulties currently facing the law of securities transfers are in large part due to the transition from paper to electronic representations of investments. To place these challenges into perspective, Professor Rogers first surveys the history of securities trading and then examines the theoretical underpinnings of the law of securities transfers.

Fiduciary Relationships Are Not Contracts, Scott Fitzgibbon

Scott T. FitzGibbon

No abstract provided.

Recuperação De Empresas Viáveis Em Dificuldades: Prevenção E Preservação De Valor [Restructuring Distressed Viable Business Entities: Prevention And Value Preservation], Bruno Ferreira

Bruno Ferreira

No abstract provided.

Falling Short: Has The Sec’S Quest To Control Market Manipulation And Abusive Short-Selling Come To An End Or Has It Really Just Begun?, Richard Ramirez

Richard E. Ramirez, J.D. | CFCS

No abstract provided.

Requirements Of A Valid Islamic Marriage Vis-À-Vis Requirements Of A Valid Customary Marriage In Nigeria, Olanike Sekinat Odewale Mrs

Olanike Sekinat Adelakun

Third Party Access And Refusal To Deal In European Energy Networks: How Sector Regulation And Competition Law Meet Each Other, Michael Diathesopoulos

Michael Diathesopoulos

In this paper, we will analyse the issue of concurrence between competition and sector rules and the relation between parallel concepts within the two different legal frameworks. We will firstly examine Third Party Access in relation to essential facilities doctrine and refusal of access and we will identify the common points and objectives of these concepts and the extent to which they provide a context to each other’s implementation. Second, we will focus on how Commission uses sector regulation and objectives as a context within the process of implementation of competition law in the energy sector and third, we will …

"That Man Is You!" The Juristic Person And Faithful Love, Scott T. Fitzgibbon

Scott T. FitzGibbon

No abstract provided.

Cyber Crimes And Effectiveness Of Laws In India To Control Them, Mubashshir Sarshar

Mubashshir Sarshar

No abstract provided.

La Cláusula "No A La Orden" En El Pagaré Y El Cheque. A Propósito De Las Modificaciones De Los Decretos 1387/2001 Y 386/2003, Martin Paolantonio, Pablo Legón

Martin Paolantonio

Análisis de la cláusula no a la orden en el pagaré y el cheque, considerando la posibilidad de endoso y sus efectos en virtud del decreto 1387/2001 y 386/2003

The Seduction Of Lydia Bennet: Toward A General Theory Of Society, Marriage, And The Family, Scott T. Fitzgibbon

Scott T. FitzGibbon

This article sketches the foundation for a general theory of society. Rejecting portrayals that make society a field of exploitation and dominance, it proposes instead an account that locates the foundation of society in its service of certain basic goods. Society is a kind of friendship. It is to be defined based on the goods of friendship and the projects that serve those goods. Its elements, including those of obligation, office, shame, and rehabilitation, further those goods. The society that emerges from this account is a "society of life." This article also proposes the concept of "components of society," reflecting …

Marriage And The Ethics Of Office, Scott T. Fitzgibbon

Scott T. FitzGibbon

This Article alms to retrieve the neglected concept of the "office," as in "the judicial office" or "corporate officer" or the"office of deacon or lector." It aims to present a thorough account of what that term means. It inquires into the ethics of office, advancing the thesis that to hold and exercise office is a good thing, not only in the obvious instrumental ways-it serves a function and it gets results-but also as a part of the "final," non instrumental good of the officeholder and even, in some arrangements, of the recipient of the officeholder's services. Office is an aspect …

La Emergencia Económica Y El Derecho Del Consumidor, Martin Paolantonio

Martin Paolantonio

Análisis de los efectos negativos de la legislación de emergencia económica y su separación conceptual de la normativa de tutela del consumidor

Marriage And The Good Of Obligation, Scott T. Fitzgibbon

Scott T. FitzGibbon

Marriage is obligatory. This is not to say, of course, that bachelorhood must be avoided or that everyone ought to get married. The point, rather, is that those who do wed form a relationship which embraces obligation as a fundamental component ("commitment norms," as Professor Elizabeth Scott has put it). This article aims to show why this is a good thing, and fundamentally so. Marriage and other affiliations, it seems, may involve obligation in two basic ways. The first way is instrumentally. The projects of married life require long-term commitment and fixity of purpose: raising children and paying off the …

"True Human Community": Catholic Social Thought, Aristotelian Ethics, And The Moral Order Of The Business Company, Scott T. Fitzgibbon

Scott T. FitzGibbon

No abstract provided.

Consideraciones Sobre El Procedimiento De Cobro De Deudas Derivadas Del Uso De Tarjetas De Crédito, Martin Paolantonio

Martin Paolantonio

Análisis de la regulación de la ley 25.065 sobre tarjetas de crédito y las reglas sustantivas y procesales para el cobro de saldos deudores

La Prueba Del Daño En La Responsabilidad Civil Por El Otorgamiento Abusivo Del Crédito, Martin Paolantonio, Salvador Bergel

Martin Paolantonio

Análisis de la dinámica probatoria del daño en los supuestos de otorgamiento abusivo del crédito

The Failure Of The Freedom-Based And Utlilitarian Arguments For Assisted Suicide, Scott T. Fitzgibbon

Scott T. FitzGibbon

In recent years, numerous initiatives have been launched to promote physician-assisted suicide. Numerous statutes have been proposed, and one (in Oregon) has been enacted. The United States Court of Appeals for the Ninth Circuit and the United States Court of Appeals for the Second Circuit were recently persuaded to recognize constitutionally protected rights to assisted suicide, although their decisions have been reversed by the Supreme Court. An international organization called the World Federation of Right-to-Die Societies furthers such efforts in other countries. The two most common justifications for such initiatives are that assisted suicide enhances freedom or liberty, and that …

Project Financing Y Fideicomiso. El Rol Del Fiduciario En El Fideicomiso De Garantía, Martin Paolantonio

Martin Paolantonio

Aplicación del fideicomiso de garantía en la financiación de proyectos, y análisis de las facultades del fiduciario en caso de incumplimiento o default

La Ineficacia Concursal En La Ley 24.522, Martin Paolantonio, Salvador Bergel

Martin Paolantonio

Estudio sobre las sustantivas modificaciones a la acción de ineficacia o revocatoria en la quiebra introducidas por la ley 24522

The Model Physician-Assisted Suicide Act And Jurisprudence Of Death, Scott T. Fitzgibbon, Kwan Kew Lai

Scott T. FitzGibbon

Your State has, let us suppose, a physician in one of its university-affiliated hospitals who is an admirer of Dr. Kevorkian, or a member of the Hemlock Society. The date is a year from now-December 1997. Your State has adopted the Model State Act to Authorize and Regulate Physician-Assisted Suicide (the "Act"). You now have an unexpected interest in the effects of the Act. A friend or a relative-your eighteen-year-old daughter or your nineteen-year-old younger brother or your fifty-five-year-old father--has approached a hospital seeking counseling and relief. Concerned about the sort of advice your loved one may receive, and concerned …

Los Money Market Funds En La Resolución General 277 De La Cnv, Martin Paolantonio

Martin Paolantonio

Análisis de la incorporación de los money market funds a la reglamentación de la Comisión Nacional de Valores