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A Whole New World: Income Tax Considerations Of The Bitcoin Economy, Benjamin W. Akins JD, LLM, Jennifer L. Chapman JD, CPA, Jason M. Gordon JD, MBA 2015 SelectedWorks

A Whole New World: Income Tax Considerations Of The Bitcoin Economy, Benjamin W. Akins Jd, Llm, Jennifer L. Chapman Jd, Cpa, Jason M. Gordon Jd, Mba

Benjamin W. Akins

Bitcoin is a virtual, cryptocurrency growing rapidly in influence throughout the world. Numerous characteristics associated with the bitcoin system, including low transaction costs and greater user privacy, make it appealing as a medium of electronic payment. The number of users of bitcoin, including merchants accepting the currency as a form of payment, has grown considerably in recent years. Estimates indicate that there are more than 60,000 active bitcoin users as of September 2012, with nearly 11 million bitcoins in existence. According to the latest estimates, bitcoin market capitalization is roughly $9 billion. The growth of bitcoin as an accepted ...


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 2015 University of Oklahoma College of Law

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

Many politicians and commentators agree that credit default swaps (CDS) played a significant role in the financial crisis of 2008. Yet, few who observe this role are aware that CDS were set loose on the economy by the federal pre-emption of thousands of years of public policy. Since the time of Aristotle law, philosophy and public policy have been hostile to gambling. Viewed as a socially unproductive zero sum wealth transfer, the law has generally refused to permit parties to use the courts to enforce wagers. Courts and legislatures worked in harmony to control and in some cases punish financial ...


Conselhinho Usa Lei Anticorrupção E Isenta Citi, Bruno Meyerhof Salama 2014 Latin American and Caribbean Law and Economics Association

Conselhinho Usa Lei Anticorrupção E Isenta Citi, Bruno Meyerhof Salama

Bruno Meyerhof Salama

Prevaleceu no julgamento o voto do conselheiro Bruno Salama, para quem a Lei Anticorrupção demonstrou "uma clara opção do legislador pela inaplicabilidade de penas pessoais de mera advertência à sociedade sucessora". De acordo com ele, a dúvida sobre a sucessão de penalidades decorria de uma omissão nas regras sobre o assunto - por isso, a Lei Anticorrupção foi usada por analogia. Esta foi a primeira vez que o Conselhinho decidiu a questão diferenciando penas pessoais daquelas em dinheiro.


The Price Of Crisis: Eminent Domain, Local Governments, And The Value Of Underwater Mortgages, Raymond H. Brescia, Nicholas Martin 2014 SelectedWorks

The Price Of Crisis: Eminent Domain, Local Governments, And The Value Of Underwater Mortgages, Raymond H. Brescia, Nicholas Martin

Raymond H Brescia

In response to the lingering fallout from the Financial Crisis of 2008, local governments have begun to explore whether it is wise and legal to use the power of eminent domain to seize distressed home mortgages. This Article attempts to situate this approach to such mortgages within the larger economic, legal and policy context and asks three key questions. First, are local governments appropriate actors to address the lingering problem of underwater mortgages? Second, assuming they are appropriate actors to address this problem, how should localities and, if necessary, courts, value underwater mortgages in the context of condemnation proceedings: i ...


Present At The Creation: Reflections On The Early Years Of The National Association Of Corporate Directors, Lawrence J. Trautman 2014 SelectedWorks

Present At The Creation: Reflections On The Early Years Of The National Association Of Corporate Directors, Lawrence J. Trautman

Lawrence J. Trautman Sr.

Effective corporate governance is critical to the productive operation of the global economy and preservation of our way of life. Excellent governance execution is also required to achieve economic growth and robust job creation in any country. In the United States, the premier director membership organization is the National Association of Corporate Directors (NACD). Since 1978, NACD plays a major role in fostering excellence in corporate governance in the United States and beyond.

The NACD has grown from a mere realization of the importance of corporate governance to become the only national membership organization created by and for corporate directors ...


New York Stock Exchange, Bert Chapman 2014 Purdue University

New York Stock Exchange, Bert Chapman

Libraries Faculty and Staff Scholarship and Research

Provides a historical overview of the origins and early development of the New York Stock Exchange.


Revenue, U.S. Government, Bert Chapman 2014 Purdue University

Revenue, U.S. Government, Bert Chapman

Libraries Faculty and Staff Scholarship and Research

Provides a historical overview of U.S. Government revenue receipts and spending during the early years of national history. Presents revenue generation statistics, information on revenue sources, and information on domestic and international political and economic factors affecting government revenue receipts.


Armed, Unarmed Or Harmed By Knowledge? A Comment On The Fha's Housing Counseling Pilot Program, David J. Reiss 2014 SelectedWorks

Armed, Unarmed Or Harmed By Knowledge? A Comment On The Fha's Housing Counseling Pilot Program, David J. Reiss

David J Reiss

The FHA has requested input on its Homeowners Armed with Knowledge (HAWK) for New Homebuyers pilot program. This comment letter argues that housing counseling is not a proven solution to the problem it is meant to solve, excessive defaults by FHA borrowers. HAWK is a traditional housing counseling program but the scholarly literature casts into doubt the efficacy of such programs. It would be better to take time to research which counseling strategies, if any, are proven to be effective. This is true for the FHA but also for other government agencies, such as the Consumer Financial Protection Bureau, that ...


The New Wild West: Preventing Money Laundering In The Bitcoin Network, Kavid Singh 2014 SelectedWorks

The New Wild West: Preventing Money Laundering In The Bitcoin Network, Kavid Singh

Kavid Singh

Bitcoin is the most popular online decentralized currency in the world. Created by an enigmatic figure, Satoshi Nakamoto, in 2009, its propagation and use has caused heated controversy. On the legal side of its use, businesses both large and small have started to accept bitcoins as a form of payment. On the illegal side of its use, large quantities of bitcoins worth hundreds of millions of dollars have been stolen from businesses and large Bitcoin currency exchanges. The aim of this article is to introduce workable federal regulation that will help deter money laundering, a pervasive problem in the world ...


Too Complex To Perceive? Drafting Cash Distribution Waterfalls Directly As Code To Reduce Complexity And Legal Risk In Structured Finance, Master Limited Partnership, And Private Equity Transactions, Ralph C. Mayrell 2014 Pace University

Too Complex To Perceive? Drafting Cash Distribution Waterfalls Directly As Code To Reduce Complexity And Legal Risk In Structured Finance, Master Limited Partnership, And Private Equity Transactions, Ralph C. Mayrell

Pace Law Review

This Article proposes that complex structured finance transactions involving sophisticated investors should adopt an analogous solution to the home construction agreements’ strategy of contracting by reference to blueprints. First, dealmakers should, preferably by choice, place as much of their waterfall distribution specification and related inputs as possible into automated, programmatic representations that will be used to make the actual distribution. In many cases, these agreements already have programmatic representations, so this change should pose relatively few practical challenges logistically. Second, they should, like their counterparts in construction contracts, define the terms of those waterfalls by reference to their functional representations ...


The Broken Buck Stops Here: Embracing Sponsor Support In Money Market Fund Reform, Jill E. Fisch 2014 University of Pennsylvania Law School

The Broken Buck Stops Here: Embracing Sponsor Support In Money Market Fund Reform, Jill E. Fisch

Faculty Scholarship

Since the 2008 financial crisis, in which the Reserve Primary Fund “broke the buck,” money market funds (MMFs) have been the subject of ongoing policy debate. Many commentators view MMFs as a key contributor to the crisis, in part because widespread redemption demands during the days following the Lehman bankruptcy led to a freeze in the credit markets. The response has been to deem MMFs a component of the nefarious shadow banking industry and to target them for regulatory reform.


Determining the appropriate approach to MMF reform has proven difficult. Banks regulators prefer a requirement that MMFs trade at a ...


Una Visión De Futuro: Perspectivas Del Proceso De Fusión De La Bvl Y Cavali, John Pineda Galarza 2014 SelectedWorks

Una Visión De Futuro: Perspectivas Del Proceso De Fusión De La Bvl Y Cavali, John Pineda Galarza

John Pineda Galarza

Recientemente la Bolsa de Valores de Lima (BVL) y Cavali ICLV suscribieron un acuerdo no vinculante a fin de adelantar un proceso de integración societaria entre ambas mediante la fusión por absorción de Cavali por la BVL. En el presente artículo el autor analiza las posibles ventajas de dicha fusión, y explica las experiencias de otros países donde se han tomado iniciativas similares y con ello los posibles avances en nuevos instrumentos financieros.


Summary Of Lavi V. Eighth Judicial District Court, 130 Nev. Adv. Op. 38, Danielle Barraza 2014 University of Nevada, Las Vegas -- William S. Boyd School of Law

Summary Of Lavi V. Eighth Judicial District Court, 130 Nev. Adv. Op. 38, Danielle Barraza

Nevada Supreme Court Summaries

The Court determined whether waiver of the “one-action rule” of NRS 40.430 terminates the procedural requirements for bringing a deficiency judgment action within six months of foreclosure under NRS 40.455.


The Liabilities Of Sureties, Daniel P. Cipollone 2014 Western University

The Liabilities Of Sureties, Daniel P. Cipollone

Western Journal of Legal Studies

This paper provides an overview of when a surety may be released from his or her obligations under a guarantee following a material variation to the principal lending contract. Part I frames the overall discussion by reviewing the role and importance of guarantees in contemporary commerce, outlining the central tenets of guarantee obligations, and distinguishing them as a subset of indemnities. Part II reviews how sureties have traditionally enjoyed a favoured status at law as well as what, in law, is considered to constitute a material variation. Part III introduces and sets out a longstanding rule governing the liability of ...


Questioni Giuridiche Connesse All'emissione E All'uso Delle Carte Di Credito Revolving, Valerio Sangiovanni 2014 SelectedWorks

Questioni Giuridiche Connesse All'emissione E All'uso Delle Carte Di Credito Revolving, Valerio Sangiovanni

Valerio Sangiovanni

No abstract provided.


Why Venture Capital Will Not Be Crowded Out By Crowdfunding, Ryan Kantor 2014 SelectedWorks

Why Venture Capital Will Not Be Crowded Out By Crowdfunding, Ryan Kantor

Bocconi Legal Papers

As the recovery period from one of the worst recessions in our history continues on, life for the fledgling and even, often times, experienced entrepreneur has been tough. Indeed, President Obama remarked “[c]redit’s been tight, and no matter how good their ideas are, if an entrepreneur can’t get a loan from a bank or backing from investors, it’s always impossible to get their businesses off the ground.” In response to this ever-present need for business funding, and in an attempt to stimulate the economy and job growth, Obama signed the Jumpstart Our Business Startups Act (“JOBS ...


Remembering George Michaely, Lawrence J. Trautman, Stanley Sporkin, John A. Dudley 2014 SelectedWorks

Remembering George Michaely, Lawrence J. Trautman, Stanley Sporkin, John A. Dudley

Lawrence J. Trautman Sr.

This short essay is a memorial tribute about George P. Michaely, Jr. (1926 to 2014). After graduating from both the University of Notre Dame and its law school, he began his legal career, serving for approximately seven years as attorney in the Office of General Counsel. He was then appointed Chief Counsel of the Commission’s Division of Corporation Finance, where he served for approximately the next four years and was responsible for advising the Commission and the public concerning the interpretation of the statutory provisions and rules relating to the registration provisions of the Securities Act of 1933 and ...


Puerto Rico: America's Tax Haven Or Not, Jason Sampas 2014 California Western School of Law

Puerto Rico: America's Tax Haven Or Not, Jason Sampas

Jason Sampas

The United States' continually rising tax rates force wealthy individuals, businesses, and entrepreneurs to seek brilliant tax advisors for relief. Rather than spending endless hours searching for a loophole to reduce the high tax rates, they should avoid the United States tax system altogether and take advantage of significant tax benefits by moving to Puerto Rico. Puerto Rico is a United States possession, which is still part of the United States. However, Puerto Rican sourced income is exempt from United States taxation. Additionally, Puerto Rico recently passed aggressive tax legislation to lure wealthy Americans, and their businesses, to relocate. This ...


Puerto Rico: America's Tax Haven Or Not, Jason Sampas 2014 California Western School of Law

Puerto Rico: America's Tax Haven Or Not, Jason Sampas

Jason Sampas

The United States' continually rising tax rates force wealthy individuals, businesses, and entrepreneurs to seek brilliant tax advisors for relief. Rather than spending endless hours searching for a loophole to reduce the high tax rates, they should avoid the United States tax system altogether and take advantage of significant tax benefits by moving to Puerto Rico. Puerto Rico is a United States possession, which is still part of the United States. However, Puerto Rican sourced income is exempt from United States taxation. Additionally, Puerto Rico recently passed aggressive tax legislation to lure wealthy Americans, and their businesses, to relocate. This ...


Puerto Rico: America's Tax Haven Or Not, Jason Sampas 2014 California Western School of Law

Puerto Rico: America's Tax Haven Or Not, Jason Sampas

Jason Sampas

The United States' continually rising tax rates force wealthy individuals, businesses, and entrepreneurs to seek brilliant tax advisors for relief. Rather than spending endless hours searching for a loophole to reduce the high tax rates, they should avoid the United States tax system altogether and take advantage of significant tax benefits by moving to Puerto Rico. Puerto Rico is a United States possession, which is still part of the United States. However, Puerto Rican sourced income is exempt from United States taxation. Additionally, Puerto Rico recently passed aggressive tax legislation to lure wealthy Americans, and their businesses, to relocate. This ...


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