Digital Commons Network^™

Japan's Experience With Deposit Insurance And Failing Banks: Implications For Financial Regulatory Design?, Curtis J. Milhaupt

Faculty Scholarship

This Article examines three decades of Japanese experience with deposit insurance andfailing banks, and analyzes the implications of that experience for bank safety net reform in other countries. To date, the literature and policy debate on deposit insurance have been heavily colored by U.S. banking history and have focused almost exclusively on explicit deposit protection schemes. Analysis of Japan's safety net experience suggests that (a) deposit insurance, for all its flaws, is superior to the real-world alternative-implicit government protection of depositors and discretionary regulatory intervention in bank distress, (b) a well-designed explicit deposit insurance system that includes a credible bank …

Making Something Out Of Nothing: The Law Of Takings And Phillips V. Washington Legal Foundation, Michael A. Heller, James E. Krier

Faculty Scholarship

Phillips v. Washington Legal Foundation held that interest on principal amounts deposited into IOLTA accounts is the property of the various clients who handed over the money but expressed no view as to whether the Texas IOLTA program worked a taking, or, if it did, whether any compensation was due. The debates among the justices about the meaning of private property, argued in terms of contextual and conceptual severance, are unlikely to prove fruitful. We elaborate a better approach in terms of the underlying purposes of just compensation. We conclude that efficiency and justice are best served by uncoupling matters …

The Benefits And Risks Of Going It Alone, Michael B. Gerrard

Faculty Scholarship

Brownfield projects are essentially real estate developments with a twist, and the old real estate adage certainly applies: "Location, location, location." But if time is the fourth dimension, then time is also the fourth element in a successful brownfield project – preferably, spending as little of it as possible.

The timing of standard governmental cleanup processes is simply incompatible with many kinds of real estate projects. Forget about cleanups of National Priorities List (NPL) sites under the U.S. Environmental Protection Agency's National Contingency Plan (NCP); those take on average almost twenty years to complete. But even many state voluntary cleanup …

Crime And Work, Jeffrey Fagan, Richard B. Freeman

Faculty Scholarship

Crime and legal work are not mutually exclusive choices but represent a continuum of legal and illegal income-generating activities. The links between crime and legal work involve trade-offs among crime returns, punishment costs, legal work opportunity costs, and tastes and preferences regarding both types of work. Rising crime rates in the 1980s in the face of rising incarceration rates suggest that the threat of punishment is not the dominant cost of crime. Crime rates are inversely related to expected legal wages, particularly among young males with limited job skills or prospects. Recent ethnographic research shows that involvement in illegal work …

The Constitution And The Cathedral: Prohibiting, Purchasing, And Possibly Condemning Tobacco Advertising, Thomas W. Merrill

Faculty Scholarship

This Article has both theoretical and practical objectives, which are closely interrelated. The theoretical objective is to develop a framework for understanding the "transaction structure" of constitutional rights. By this, I refer to the different rules that determine when the government may purchase, condemn, or otherwise extinguish constitutional rights. The practical objective is to consider different options that may be available to the government, as part of a broader effort to reduce the incidence of smoking, to curtail tobacco advertising that would otherwise be protected under the First Amendment. It is my hope that the theoretical framework will illuminate the …

Foreword, Elizabeth S. Scott

Faculty Scholarship

In November 1998, the interdisciplinary Center for Children, families and the Law at the University of Virginia sponsored a conference on Youth Violence and Juvenile Justice Reform. The conference brought together an extraordinary group of experts from the academic disciplines of law, criminology and psychology. Before an audience made up of researchers, students, policymakers, and practitioners in the field of juvenile justice, these experts analyzed legal policy toward juvenile crime from a variety of disciplinary and methodological perspectives. The articles in this important symposium issue of the Virginia Journal of Social Policy & the Law are based on the papers …

Virtuous Lying: A Critique Of Quasi-Categorical Moralism, William H. Simon

Faculty Scholarship

Popular and professional moralists have a tendency to over-condemn lying. This Article is a critique of that tendency and the more general outlook it exemplifies, which I call Quasi-Categorical Moralism. I begin with an illustration from my own experience of morally appropriate lying that is condemned by the legal profession's ethics norms. I proceed to a critical examination of the arguments against lying in what is perhaps the best known contemporary work on professional ethics – Sissela Bok's Lying. I then explore the more sympathetic treatment of lying in a broad range of literary and philosophical works typically ignored …

Secured Credit And Software Financing, Ronald J. Mann

Faculty Scholarship

Software is a relatively new type of business asset, but already has taken on a central role in all sectors of the economy; when any asset brings such a crucial value to businesses, the desire for lending based on that asset cannot be far behind. Unfortunately, the existing academic literature contains no sustained examination of software-related lending.

Because the software industry is in its infancy, the existing empirical evidence is inadequate to support any understanding of it. Accordingly, I undertook a series of twenty-nine informal interviews with industry participants, including lenders in both the Massachusetts Route 128 corridor and Silicon …

Beyond Backyard Environmentalism, Archon Fung, Charles F. Sabel, Bradley C. Karkkainen

Faculty Scholarship

From California habitats to Massachusetts toxics, the United States is in the midst of a fundamental reorientation of its environmental regulation, one that is as improbable as it is unremarked Minimally, the new forms of regulation promise to improve the quality of our environment At a maximum, they suggest a novel form of democracy that combines the virtues oflocalism and decentraliz.ation with the discipline of national coordination.

In substance and spirit, this new approach to regulation grows out of the tradition of backyard environmentalism. For two decades, residents of Woburn, Love Canal, and countless other communities across the country have …

Teaching Reasoning, Vincent A. Blasi

Faculty Scholarship

Reasoning skills of a certain sort are taught well in the traditional law school curriculum. No matter how good her previous education, the typical law student surely acquires an improved facility at testing propositions by considering hypothetical applications. Many students learn a lot about linguistic indeterminacy, unintended consequences, the allocation of decision-making responsibility, and how much turns on which questions are asked and how they are framed. It is a rare, indeed obtuse, person who completes a legal education still temperamentally inclined to refute unwelcome ideas when distinguishing them will do.

Where legal education falls short, I think, is with …

Retaining Mandatory Securities Disclosure: Why Issuer Choice Is Not Investor Empowerment, Merritt B. Fox

Faculty Scholarship

This Article advances the reopened debate over mandatory disclosure in two ways. First, it demonstrates that the proponents of issuer choice have not effectively countered the arguments that have formed the basis of the prevailing consensus for retaining mandatory disclosure. While this consensus was formed when the alternative to mandatory disclosure was total abandonment of regulation, the proponents of issuer choice have not shown how the arguments that form the basis of this consensus have any less force when applied to the new alternative of issuer choice. Nor have the proponents offered persuasive, more general rebuttals to these arguments. Second, …

Progressive Constitutionalism: Conceptions Of Interpretation And The Religion Clauses, Kent Greenawalt

Faculty Scholarship

In this paper, I concentrate on the narrower, more typical topic of judicial interpretation. At least in regard to the religion clauses, this may be warranted because any progressive constitution would probably include something similar to the Free Exercise and Establishment Clauses, and these would be judicially enforceable to some degree.

The first part of this essay explores relations between progressive values and interpretive approaches. When I asked myself how a judge, committed to progressive values, would interpret the Federal Constitution, I was troubled by whether a progressive approach would be activist or restrained in relation to legislative authority. I …

Diverse Perspectives And The Religion Clauses: An Examination Of Justifications And Qualifying Beliefs, Kent Greenawalt

Faculty Scholarship

Some of the most complex questions about constitutional provisions governing religion concern the status of various kinds of convictions. Put most simply, how do undoubted religious convictions compare with convictions that appear to have little to do with religion, with convictions that derive from negative answers to religious questions, and with convictions that seem to be on some borderline of what may count as religion? In this Essay, I focus on two kinds of questions about this range of convictions.

Part I of the Essay explores justifications underlying the religion clauses of federal and state constitutions. It asks how explicitly …

Police Reform And The Department Of Justice: An Essay On Accountability, Debra A. Livingston

Faculty Scholarship

In 1994, Congress promulgated a significant piece of legislation that may prove to have an extremely important impact on the operation of local police departments. Section 14141 of Title 42, enacted as part of the Violent Crime Control and Law Enforcement Act of 1994, prohibits governmental authorities or those acting on their behalf from engaging in "a pattern or practice of conduct by law enforcement officials" that deprives persons of "rights, privileges, or immunities secured or protected by the Constitution or laws of the United States." Whenever the Attorney General has reasonable cause to believe that a violation has occurred, …

Dispute Settlement Procedures And Mechanisms, Petros C. Mavroidis

Faculty Scholarship

The role that the World Trade Organization (WTO) plays in the settlement of United States-Japan trade disputes is, but should not be, U.S. and Japan-specific. The WTO is a multilateral forum and this aspect of its character must be maintained for the WTO to acquire credibility in the settlement of trade disputes. Trade disputes, if at all, should be exceptional not because of the parties involved, but because of their subject matter. Nothing indicates that the U.S.-Japan trade disputes are subject matter-specific. In fact, the opposite is true: there is ample evidence demonstrating that disputes over the same issues among …

Public Funding And Democratic Elections, Richard Briffault

Faculty Scholarship

Our existing federal campaign finance system – the product of Watergate Era legislation and the Supreme Court's 1976 decision in Buckley v. Valeo – is in a state of disarray. The system is no longer capable of accomplishing the goals pursued by Congress and embraced by the Court a quarter-century ago: full disclosure of the sources of campaign money; limitations on large contributions by individuals; prohibitions on the use of corporate and union treasury funds; and voluntary, partial public funding, with spending limits, in the Presidential election. Indeed, the current law may actually have negative consequences, with unindexed contribution limits …

Introduction: Reconnecting Labor And Civil Rights Advocacy, Susan P. Sturm

Faculty Scholarship

Labor and civil rights movements in the United States share the aspiration of empowering workers to attain economic and social justice in the workplace. From their inception, both movements have articulated goals that link individual dignity and group empowerment, economic access and fair treatment, legal entitlements and political mobilization. They proceed on the premise that the workplace is a site where vital economic interests and possibilities for self-development come together. Put otherwise, both forms of advocacy strive for a regime that links these concerns to do justice to the workplace as a site for the expression of democratic citizenship.

Required Disclosure And Corporate Governance, Merritt B. Fox

Faculty Scholarship

One of the most distinctive features of U.S. business law is the stringent requirements of ongoing disclosure imposed on issuers of publicly traded securities. This scheme usually has been justified as necessary to protect investors from making poor trading decisions as a result of being uninformed. Little scholarly attention, however, has been paid to the corporate governance effects of such required disclosure. In analyzing these effects, this article concludes that required disclosure can improve corporate governance in important ways. Indeed, improving corporate governance, not investor protection, provides the most persuasive justification for imposing on issuers the obligation to provide ongoing …

Copyright Legislation For The "Digital Millennium", Jane C. Ginsburg

Faculty Scholarship

In October 1998, Congress passed two major copyright bills, the "Digital Millennium Copyright Act" [DMCA], and the "Sonny Bono Copyright Term Extension Act." Moreover, the Senate ratified U.S. accession to the WIPO Copyright and Performances and Phonograms Treaties. The DMCA implements the obligations set forth in articles 11 and 12 of the WIPO Copyright Treaty [WCT] (and articles 18 and 19 of the WIPO Performances and Phonograms Treaty [WPPTI) to protect technological measures against circumvention, and to protect "copyright management information" against removal or alteration that facilitates infringement. The DMCA also includes a chapter on the liability of online service …

Individual Justice In A Bureaucratic World, Geoffrey C. Hazard, Jr.

Faculty Scholarship

No abstract provided.

Is The Shrink's Role Shrinking? The Ambiguity Of Federal Rule Of Criminal Procedure 12.2 Concerning Government Psychiatric Testimony In Negativing Cases, R. Gregory Cochran

Faculty Scholarship

No abstract provided.

Roundtable Discussion: Where Do We Go From Here? Lesbian, Gay, Bisexual And Transgendered Civil Rights Into The Next Millennium, Matt Coles

Faculty Scholarship

No abstract provided.

Be My Guest: The Hidden Holding Of Minnesota V. Carter, Edwin J. Butterfoss, Mary Sue B. Snyder

Faculty Scholarship

This Article first examines the Carter case in detail, including the opinions of the state courts and the briefs and oral argument in the United States Supreme Court, before turning to the Court's decision. The Article highlights the importance of Justice Kennedy's concurring opinion and explains the "hidden holding" of the case, raising the question of whether lowercourts will apply the correct rule from the case. The Article argues that the Court's denial of the defendants' claim of a reasonable expectation of privacy, combined with its failure to provide guidance as to when non-overnight visitors in homes will have the …

Bulletproofing The Workplace: Symbol And Substance In Employment Discrimination Law Practice, Susan Bisom-Rapp

Faculty Scholarship

This Article examines how employment lawyers representing management play a role in creating data and affect the perception of employment disputes. More specifically, it explores how defense lawyers attempt to strategically position employers to safeguard these clients against discrimination and other employment-related litigation. A primary focus of their advice is on producing an evidentiary record that an employer can use defensively should the need ever arise. Defense attorneys, therefore, counsel employers to implement and carefully administer standardized employee evaluation systems and train supervisors how to write up and terminate employees without running afoul of the law.

It goes without saying …

Broadening Our World: Citizens And Immigrants Of Color In America, Victor C. Romero

Faculty Scholarship

This article was originally presented at a symposium. The article discusses affirmative action and ways of increasing diversity in higher education.

Lifetime Employment: Labor Peace And The Evolution Of Japanese Corporate Governance, Ronald J. Gilson, Mark J. Roe

Faculty Scholarship

In Japan, large firms' relationships with their employees differ from those prevailing in large American firms. Large Japanese firms guarantee many employees lifetime employment, and the firms' boards consist of insider employees. Neither relationship is common in the United States.

Japanese lifetime employment is said to encourage firms and employees to invest in human capital. We examine the reported benefits of the firm's promise of lifetime employment, but conclude that it is no more than peripheral to human capital investments. Rather, the "dark" side of Japanese labor practice – constricting the external labor market – likely yielded the human capital …

Application-Centered Internet Analysis, Tim Wu

Faculty Scholarship

There is a now-standard debate about law and the Internet. One side asserts that the Internet is so new and different that it calls for new legal approaches, even its own sovereign law. The other side argues that, although it is a new technology, the Internet nonetheless presents familiar legal problems. It is a battle of analogies: One side refers to Cyberspace as a place, while the other essentially equates the Internet and the telephone.

In my view, these two positions are both wrong and right: wrong in their characterization of the Internet as a whole, yet potentially right about …

Stepping Into The Same River Twice: Rapidly Changing Facts And The Appellate Process, Stuart M. Benjamin

Faculty Scholarship

No abstract provided.

After Legal Aid Is Abolished, Geoffrey C. Hazard, Jr.

Faculty Scholarship

No abstract provided.

[On The] Road Back In: Community Lawyering In Indigenous Communities, Christine Zuni Cruz

Faculty Scholarship

The idea of professional success,especially in the elite legal profession, as being closely linked to community or having corresponding value to the community has directly affected my view of individual lawyering. Excerpts reprinted in: Social Justice: Professionals, Communities and Law, 11 (Mahoney, Calmore, Wildman, eds., 2003); Lawyers Ethics and The Pursuit of Social Justice and Ethics 201 (Susan D. Carle, ed., 2005); Clinical Anthology, Readings for Live-Client Clinics, (2d Ed., A.J. Hurder, et al., eds., 2011).