Digital Commons Network^™

More Than Just New Financial Bingo: A Risk-Based Approach To Understanding Derivatives, Kimberly D. Krawiec

Faculty Scholarship

The large losses suffered by investors in financial derivatives during recent years have prompted a wave of litigation, as well as proposals from Congress and regulatory agencies for increased monitoring of derivatives markets. Many, including some members of Congress and even "industry experts," are uneasy with the growing use of derivatives. Yet many market participants and others knowledgeable about this growing industry insist that derivatives serve an important, and perhaps vital, purpose by allowing investors to better manage the financial risks associated with their business transactions.

I define the term derivative and briefly discuss the history, uses and types of …

A Virtuous Warrior In A Savage World, Charles J. Dunlap Jr.

Faculty Scholarship

Divining the nature of future war is always problematic. President Eisenhower warned that "Every war is going to astonish you in the way it has occurred, and in the way it is carried out." The United States must, of course, be prepared to meet a wide range of contingencies. Paramount among them would be a threat posed by a "peer competitor," that is, a state capable of battling the United States with comparable forces employing largely orthodox tactics. Although it is almost certain that one will arise in the future, no nation exists today that can challenge America symmetrically as …

Gas Mass Fractions And The Evolution Of Spiral Galaxies, Stacy S. Mcgaugh

Faculty Scholarship

We show that the gas mass fraction of spiral galaxies is strongly correlated with luminosity and surface brightness. It is not correlated with linear size. Gas fraction varies with luminosity and surface brightness at the same rate, indicating evolution at fixed size. Dim galaxies are clearly less evolved than bright ones, having consumed only ∼1/2 of their gas. This resolves the gas consumption paradox, since there exist many galaxies with large gas reservoirs. These gas-rich galaxies must have formed the bulk of their stellar populations in the last half of a Hubble time. The existence of such immature galaxies at …

The Committee On The Regions And The Role Of Regional Governments In The European Union, Naomi Roht-Arriaza

Faculty Scholarship

No abstract provided.

Travels With Otto, Joseph R. Grodin

Faculty Scholarship

No abstract provided.

Purpose Scrutiny In Constitutional Analysis, Ashutosh Bhagwat

Faculty Scholarship

No abstract provided.

The Constitutional Limits Of Judicial Rulemaking: The Illegitimacy Of Mass-Tort Settlements Negotiated Under Federal Rule 23, Paul D. Carrington, Derek P. Apanovitch

Faculty Scholarship

No abstract provided.

Law As “The Common Thoughts Of Men”: The Law-Teaching And Judging Of Thomas Mcintyre Cooley, Paul D. Carrington

Faculty Scholarship

In this article, Professor Carrington offers an intellectual history of Thomas McIntyre Cooley. Cooley, a close contemporary of Dean Langdell, was in his time the premier judge, law teacher, and legal scholar in America, overshadowing not only Langdell, but his somewhat younger associate, Oliver Wendell Holmes. The twentieth century has neglected, even scorned, Cooley, while elevating Langdell and Holmes: Langdell as the patron of the technographic profession trained by Hessians, and Holmes as the patron of a disengaged academic sub-profession. In the Jacksonian universe producing Cooley, there was little appreciation of the likes of either Landgell and his successors, or …

Law And The Wisconsin Idea, Paul D. Carrington, Erika King

Faculty Scholarship

No abstract provided.

Renovating Discovery, Paul D. Carrington

Faculty Scholarship

No abstract provided.

Conservatives, Liberals, Romantics: The Persistent Quest For Certainty In Constitutional Interpretation, Frederick Mark Gedicks

Faculty Scholarship

Despite their considerable ideological differences, "conservative originalists" such as Robert Bork and "progressive originalists" such as Michael Perry both divide the process of understanding into cognitive (or "objective") and normative (or "subjective") aspects. The determination of the original meaning of the Constitution is methodologically separated from the question how this predetermined meaning should be applied in a particular case. This places both conservative and progressive originalists squarely in the tradition of Romantic hermeneutics, which sought to overcome the uncertainty and imprecision of textual interpretation by developing a "science of interpretation" which purported to be as epistemologically reliable as the methods …

Commentary [Symposium: Politicians On Judges: Fair Criticism Or Intimidation], Susan Herman

Faculty Scholarship

No abstract provided.

Learning Our Limits: The Decline Of Textualism In Statutory Cases, Lawrence Solan

Faculty Scholarship

No abstract provided.

Democracy, Distrust And The Public Trust: Process-Based Constitutional Theory, The Public Trust Doctrine And The Search For A Substantive Environmental Value, William D. Araiza

Faculty Scholarship

No abstract provided.

Continuing Classroom Conversation Beyond The Well-Placed "Whys?", Bailey Kuklin, Jeffery J. Stemple

Faculty Scholarship

No abstract provided.

The Improbability Of Religion Clause Theory, Frederick Mark Gedicks

Faculty Scholarship

No abstract provided.

Strategies For Preserving The Bankruptcy Trustee's Avoidance Power Against States After Seminole Tribe, Edward J. Janger

Faculty Scholarship

No abstract provided.

Law And Order In Cyberspace, Nick Allard, David A. Kass

Faculty Scholarship

No abstract provided.

The United States Parol Evidence Rule Under The United Nations Convention On Contracts For The International Sale Of Goods, David H. Moore

Faculty Scholarship

No abstract provided.

The Disregarded Common Parentage Of The Equal Footing And Public Trust Doctrines, James R. Rasband

Faculty Scholarship

No abstract provided.

Housing Abandonment And New York City's Response, David Reiss

Faculty Scholarship

No abstract provided.

Ending The Irs As We Know It: Thoughts From Outside The Beltway, J. Clifton Fleming Jr.

Faculty Scholarship

No abstract provided.

Canada's Limitation Of Hate Speech: A Comparative Perspective, David H. Moore

Faculty Scholarship

No abstract provided.

State Regulation Of Managed Care And The Employee Retirement Income Security Act, Wendy K. Mariner

Faculty Scholarship

The federal Employee Retirement Income Security Act (ERISA)1 is the federal law that governs employee-benefit plans offered by private employers and unions. ERISA has long hindered state efforts to expand access to health care, because it prohibits states from requiring all employers to offer benefits to their employees.2 States have shifted their attention from seeking universal insurance coverage for health care to regulating the benefits of people who already have health insurance. Reports describing how some managed-care organizations limit the care provided to their enrollees have prompted a rash of legislative efforts intended to protect patients from receiving …

Average Cost Basis And Compliance Complexity, Alan L. Feld

Faculty Scholarship

When the second Clinton administration submits tax recommendations to Congress in 1997, it probably will recycle some of the proposals it made earlier this year. One likely candidate concerns the determination of adjusted basis for substantially identical securities. This viewpoint gets a head start in evaluating the administration's proposal.

The federal income tax establishes a general framework for the taxation of profits from appreciation in investments. It allows investors to defer recognition of gain until a realization event occurs. If the investment property constitutes a capital asset and if the investor has held the property long enough, now more than …

Lending Discrimination: Economic Theory, Econometric Evidence, And The Community Reinvestment Act, Keith N. Hylton, Vincent D. Rougeau

Faculty Scholarship

Although it has been settled law for almost two decades, there has been a heightened interest in the Community Reinvestment Act (CRA) over the last several years. One factor driving this interest is the continuing economic decline of the inner cities and the consequent widening of the wealth gap between cities and surrounding suburbs in many areas of the country. A second factor is the consolidation of the banking industry, which has encouraged expansion-oriented banks to improve their CRA ratings to gain the approval of regulators. A recent effort to enhance enforcement of the statute, in part the result of …

Are Law Firm Partners Islands Unto Themselves? An Empirical Study Of Law Firm Peer Review And Culture, Susan Saab Fortney

Faculty Scholarship

This article examines how attitude and law firm culture affect peer review and principal accountability by using empirical data obtained from a survey of Texas law firms. Part I briefly describes the research design and the general profiles of respondents of the survey. Part II discusses the peer review measures used by the firms surveyed for this article. Part III analyzes attitudes about peer review. Part IV focuses on the obstacles to peer review. Part V considers the connection between firm culture and the implementation of peer review measures. Finally, the conclusion explains how firm managers can reshape attitudes to …

A Photographer's Guide To Legal Writing, Barbara P. Blumenfeld

Faculty Scholarship

The author recounts a photography course that taught the three keys to an effective photograph: determining theme, focusing attention on char theme, and simplifying. This article adapts these three keys to legal writing to teach and remind writers of the necessary components of an effective legal document. This method provides a new way to look at old teachings.

Out Of Focus, John C. Dernbach

Faculty Scholarship

No abstract provided.

Funding Fairness: Public Investment, Proprietary Rights And Access To Health Care Technology, William M. Sage

Faculty Scholarship

In her accompanying Article, "Public Research and Private Development: Patents and Technology Transfer in Government-Sponsored Research," Professor Rebecca Eisenberg suggests that federal technology transfer policies should be reexamined in light of actual experience with patented technologies. Indeed, the relationship among federal research funding, patent law, and medical innovation has become more complicated in the years since the passage of the Bayh-Dole Act. Rising health care spending despite slowing overall economic growth has fostered the development of private sector managed care, has led to cutbacks in government support for both research and clinical services, and has increased the percentage of uninsured …