Securities Law Commons^™

Substitutes For Insider Trading, Ian Ayres, Joseph Bankman

Ian Ayres

When insider trading prohibitions limit the ability of insiders (or of a corporation itself) to use material non-public information to trade a particular firm’s stock, there may be incentive to use the information to trade instead on the stock of that firm’s rivals, suppliers, customers, or the manufacturers of complementary products. We refer to this form of trading as trading in stock substitutes. Stock substitute trading by a firm is legal. In many circumstance, substitute trading by employees is also legal. Trading in stock substitutes may be quite profitable, and there is anecdotal evidence that employees often engage in such …

Turning A Blind Eye: Wall Street Finance Of Predatory Lending

Patricia A. McCoy

Today, Wall Street finances up to eighty percent of subprime home loans through securitization. The subprime sector, which is designed for borrowers with blemished credit, has been dogged by predatory lending charges, many of which have been substantiated. As subprime securitization has grown, so have charges that securitization turns a blind eye to financing abusive loans. In this paper, we examine why secondary market discipline has failed to halt the securitization of predatory loans.

When investors buy securities backed by predatory loans, they face a classic lemons problem in the form of credit risk, prepayment risk, and litigation risk. Securitization …

The Seduction Of Lydia Bennet And The Jurisprudence Of The Juristic Society, Scott Fitzgibbon

Scott T. FitzGibbon

The theme of the 12th World Conference of the ISFL is The Family Law – Balancing Interests, Pursuing Priorities. The papers presented there reflected (to a varying degree) that theme, and will analyze the family laws, doctrines, rules, decisions and reform proposals of many nations from these balance-and-priorities perspectives. Papers concerning civil and common law, spousal as well as parent-child issues, traditional as well as non-traditional relations, existing laws as well as proposed reforms, economic as well as non-economic issues, and essential as well as adjective laws will be included. The book contains selected papers chosen for the interest and …

The Private Securities Litigation Reform Act And The Entrepreneur: Protecting Naïve Issuers From Sophisticated Investors, Robert Sprague, Karen Page

Robert Sprague

No abstract provided.

Distinguishing Judges: An Empirical Ranking Of Judicial Quality In The United States Court Of Appeals, Robert Anderson

Robert Anderson IV

This article presents an empirical quality ranking of 383 federal appellate judges who served on the United States Court of Appeals between 1960 and 2008. Like existing judge evaluation studies, this article uses citations among judicial opinions to assess judicial quality. Unlike existing citation studies, which treat positive and negative citations alike, this article ranks judges according to the mix of positive and negative citations to the opinions, rather than the number of citations to those opinions. By distinguishing between positive and negative citations, this approach avoids ranking judges higher for citations even when the judges are being cited negatively. …

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

La Cláusula General Como Elemento Esencial En La Configuración De Los Actos De Competencia Desleal Enunciados Y No Enunciados, Pierino Stucchi

Pierino Stucchi

No abstract provided.